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True or false When a companys Cash account balance is less than its Accounts Payable account balance bankruptcy is likely to follow.?
Wiki User
∙ 15y ago
yes
Wiki User
∙ 15y ago
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What is a subsidiary account for accounts payable?
the accounts payable account is on the general ledger and is generally comprised of many smaller vendor accounts which are listed and tracked separately in the "accounts payable subsidiary ledger". So each vendor would be a subsidiary account of the accounts payable ledger.
What type of account is an accounts payable?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe".
When services are rendered but payment is not made which account would be increased?
Accounts payable
Is account payable asset or liability?
accounts payable is a liablity.
What is Accounts Payable the compliance?
account payable is the liability of creditor.
What is a subsidiary account for accounts payable?
the accounts payable account is on the general ledger and is generally comprised of many smaller vendor accounts which are listed and tracked separately in the "accounts payable subsidiary ledger". So each vendor would be a subsidiary account of the accounts payable ledger.
What type of account is an accounts payable?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe".
When services are rendered but payment is not made which account would be increased?
Accounts payable
Is account payable asset or liability?
accounts payable is a liablity.
What is Accounts Payable the compliance?
account payable is the liability of creditor.
What are Accounts Payable and Notes Payable?
Accounts payable are the amounts owed to a supplier that the buyer holds an account with. Notes payable is the amount owed to creditors, that is, suppliers that the buyer does not hold an account with.
What is the debit and credit in made a payment on accounts payable?
account payable account debit to bank account
What type of account is debtors account?
Accounts Payable.
When paying on credit is that classified as accounts payable or receivable?
account payable
Is an electricity account an example of a trade account payable?
No Electricity account is non-trade accounts payable as trade accounts payable are those suppliers only from which company purchase supplies for sale purpose.
What account type is accounts payable?
Accounts payable is a liability account. When something is purchased on account it falls under this category such as purchasing $10,000 worth of office supplies on account. You would debit the office supplies account under assets and credit accounts payable under liabilities.
Is Accounts Payable considered a debit on the Trial Balance?
No, it is a Credit because Accounts payable is a Liability account.
