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It's neither assets nor liability if a salary is already paid, it's called expense.
But a salary before the payment would be called liability and after the payment it is going to be called an expense
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Is salary current asset to company?
A salary would be something you would pay an employee, therefore it would be something the company owes, making it a liability when it is recorded but not paid, an expense when it is paid.
Is the cash dividend paid asset or liability?
is an asset
Are Advance paid a current asset or current liability?
advance paid is current asset and advance received is current liability.
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
Paid-in capital a asset or liability?
Neither, it is equity
Is salary current asset to company?
A salary would be something you would pay an employee, therefore it would be something the company owes, making it a liability when it is recorded but not paid, an expense when it is paid.
Is the cash dividend paid asset or liability?
is an asset
Are Advance paid a current asset or current liability?
advance paid is current asset and advance received is current liability.
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
Paid-in capital a asset or liability?
Neither, it is equity
Is tax paid on purchases an asset or liability?
Tax paid on purchases are considered a liability. Anything paid to another is considered a liability for businesses because they are spending money.
Interest paid on loan to buy an asset-asset or liability or expense?
Loan acquired to buy an asset is a liability of business so interest incurred on that loan is also part of that loan and that's why it is also the liability of business.
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Is additional paid in capital an asset?
Additional paid in capital is an asset to a business. If this type of capital has to be paid back to a financial institution, then it will also become an accounts payable or liability.
Is an unpaid invoice for stock purchased an asset?
Until it's paid it's a liability.
Is dividends an asset on the balance sheet?
If dividend payable then liability if dividend receivable then it is asset if dividend paid then it is not part of balance sheet.
Is notes payable an asset or a liability?
Accounts Payable and Notes Payable are liabilities. Accounts receivable - assets All "payable" accounts are "liabilities". This is because a liability is something the company OWES, a payable is the very same thing, hence the term "payable". Though some payable accounts change from being a payable to an expense, they are still liabilities as long as they are "payable", these include: Interest Payable (liability until paid, then reverts to Interest Expense) Salary or Wages Payable(liability until paid, then reverts to salary or wage expense) Payable accounts maintain a "credit" balance, meaning they increase with a Credit and Decrease with a debit. Now the quick answer: Payable = Liability Receivable = Asset
