ETD payable = Employer Tax Deductions Payable
Accounts Payable releted to Creditors and Bills payable releted to bank.
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
Salaries payable is liability payable in future time period.
debit accounts payable 250credit notes payable 250
Rent is the consideration payable for the use of tangible assets i.e. Building and machinery etc. Royalty is the consideration payable for the use of special right in a tangible or intangible asset.
ETD payable = Employer Tax Deductions Payable
Accounts Payable releted to Creditors and Bills payable releted to bank.
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
The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.The royalty had complete disdain for the commoners.
Salaries payable is liability payable in future time period.
debit accounts payable 250credit notes payable 250
acoounting payable
payable is credit
Accounts Payable clerk
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
[Debit] Goods purchased [Credit] notes payable / accounts payable