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Should Accounts be capitalized in accounts payable?
Accounts Payable should be capitalized if using the phrase as a proper noun. If not then it does not need to be capitalized.
If a packing slip shows a shortage what should accounts payable do?
If the packing slip shows a shortage, the accounts payable department should send it back.
Do you close out accounts payable at the end of the year?
In answer to your question: no. Accounts Payable is the total amount you owe to your creditors, therefore it is a liability and should be left on your balance sheet.
What if packing slip shows a shortage what should account payable do?
If the packing slip shows a shortage, the Accounts Payable department should send it back.
When posting a column total in the purchases journal a credit should be posted to?
accounts payable
Should Accounts be capitalized in accounts payable?
Accounts Payable should be capitalized if using the phrase as a proper noun. If not then it does not need to be capitalized.
Is accounts payable a debit or creit balance account?
Accounts Payable is a liability so it should be a credit balance.
If a packing slip shows a shortage what should accounts payable do?
If the packing slip shows a shortage, the accounts payable department should send it back.
When petty cash falls under the accounts payable umbrella what guideline should be set?
when petty cash falls under the accounts payable umbrella, what guidlines should be set?
Do you close out accounts payable at the end of the year?
In answer to your question: no. Accounts Payable is the total amount you owe to your creditors, therefore it is a liability and should be left on your balance sheet.
What if packing slip shows a shortage what should account payable do?
If the packing slip shows a shortage, the Accounts Payable department should send it back.
If a packing slip shows a shortage what should the AP department do?
If the packing slip shows a shortage, the Accounts Payable department should send it back.
When posting a column total in the purchases journal a credit should be posted to?
accounts payable
When posting the column totals of a cash payments journal a debit should be posted to?
accounts payable
Does a credit to accounts payable represent cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does a credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
