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It is the liability on an open account for the purchase of a commodity or service used in the regular course of business.
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∙ 2007-10-18 15:27:26
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What is accounts payable non trade?
Accounts payable non-trade is an entry that is made through a journal entry. Most accounts payable are trade and they are done through an accounts module that will automatically generate accounting entries.
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.
Where does Trade accounts payable go balance sheet or income statement?
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
What is assets trade?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
Is trade accounts payable a current liability?
Yes its a current liablity
What is trade payable?
A trade payable is another term referred to as an account payable. Most companies have an accounts payable department responsible for making sure money is paid to other parties that the company received a service from.
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.
