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Business Accounting and Bookkeeping

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What is the body of law that governs the availability and use of federal funds

Who has the final word on how much money can be spent by a given agency or program under the separation of powers doctrine

How do you spell commitments

Which stage of disbursement accounting is also known as the accounts payable stage

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Q: What are the golden rules for accounts payable?
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Related questions

Are creditors accounts payable or accounts receivable?

Accounts Payable


Who is responsible for posting authorized credits to accounts payable?

Accounts Payable clerk


How do you get weighted average for accounts payable?

Weighted Average Accounts payable = Opening period accounts payable + closing period accounts payable divided by 2 Example: Opening Accounts payable = 10000 Closing accounts payable = 20000 Average = 30000/2 = 15000


Are accounts payable accounts that you expect will be paid to you?

are accounts payable accounts that expect will be paid to u


What is the antonym of accounts payable?

Accounts receivable is the term for amounts due, while accounts payable are owed.While this is the "opposite" of accounts payable, it is NOT an antonym.


Is accounts payable a liability or an expense?

Accounts Payable is a liability. Accounts receivable is an asset.


Is accounts payable a credit or debit?

Accounts Payable has a credit balance.


What causes accounts payable to increase or decrease?

When an item is purchased on credit accounts payable increases. For example if you purchase something for $250 on credit this is the entry to increase accounts payable. Purchases 250 Accounts Payable 250 When you pay for your purchases it will decrease accounts payable. Accounts Payable 250 Cash 250


What are accounts payable entries?

[Debit] Accounts payable [Credit] Cash / bank


Is accounts payable a variable cost?

Yes Accounts payable is a variable cost.


Journal entry to record the conversion of an 250 accounts payable to a notes payable?

debit accounts payable 250credit notes payable 250


Is accounts payable listed on an income statement?

accounts payable is account in balance sheet


Is an accounts payable created when your company pays cash for a purchase?

An Accounts Payable is created when...


When a credit is posted to the accounts payable ledger what happens?

Accounts payable balance will increase


What does the accounts payable department do?

The accounts payable is part of a company's accounting department. Accounts payable makes payments to outside firms that supplies it with a service or product.


What type of account is accounts payable?

An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe".ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability.


What is the golden rule of accounts?

I presume you're asking for the golden rules of accounting, instead of the golden rules of accounts.The "golden rule of accounts" doesn't even exist, anyway, even if you wanted to know what it is.In this case, the golden rules of accounting are:For personal accounts, debit the receiver and credit the giver.For real accounts, debit what comes in and credit what comes out.For nominal accounts, debit all expenses/losses and credit all income/gains.


How are a schedule of accounts payable prepared?

An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe". ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability. Rahul


What type of accounts are accounts receivable and accounts payable?

real accounts


What is a liability account?

Liability Accounts record obligations of a business towards its creditors. Examples of liability accounts are Accounts Payable, Interest Payable, Wages Payable. These accounts appear on the balance sheet.


What is the normal balance for accounts payable?

Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance


What is accounts payable considered on trial balance?

Accounts payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.


What is the description for an accounts payable position?

An accounts payable position is called a Purchase Ledger Clerk


Which sap module is used by accounts payable?

SAP A/P Module is used for Accounts payable.


What stage of accounting is known as accounts payable?

Accounts payable is money owed by a company to its creditors.