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What is the journal entry for Cost of services provided I know the debit will decrease COGS but what will I credit I tried Salary Payable however there is not enough cash flow to pay out?
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What are the liabilities account titles?
Accounts payable - is an obligation of the entity to pay a sum amount of money, that arises from the buying of goods and services on credit terms in the ordinary course of the business.Loans payable - obligations of an entity that arises from the borrowing of money from a lender.Unearned revenues - obligations to supply goods and services that is a result of advance payments of customers.Notes payable - almost the same as accounts payable, the only difference however is the fact that the liability is evidenced by a non-negotiable promissory note.Mortgage payable - obligations for long term borrowing in which a fixed asset, usually a land or building is use as a collateral.Salaries and wages payable - are obligations to employees to pay an agreed just compensation for rendering services for the entity.13-liability-accounts#ixzz1yNfijHWq
What is the Difference between account payable and accrued expense?
Accounts Payable are supported by invoices or billing statements. Accrued Expenses are expenses which relate to the current period; however, there is not an invoice on hand. For example, the company lawyer bills the company for his services on an invoice on the 15th of each month, you would post his invoice in Accounts Payable and accrue legal fees for the 16th to the end of the month.
Will a credit always decrease a cash account?
A cash account will always be decreased by a credit, but a credit will not always decrease a cash account. The only time a credit decreases cash is when the company pays out cash, whether it's to purchase supplies, inventory, or pay wages etc. Here is two examples of a credit in a transaction, one will decrease cash, the other will not. Company X buys $1,000 in inventory from Company Y and pays CASH. The debit for this transaction will increase inventory, the credit will decrease cash since company X is paying cash for this transaction. Using the same transaction however, changing Company X wants to purchase this inventory on "credit" the debit in this transaction as above will still increase inventory, however, since Company X has chosen to purchase this inventory on credit and not use cash and accounts payable will be set up and the credit will "increase" accounts payable. Remember, Assets will "always" increase with a debit and decrease with a credit. Liabilities will "always" decrease with a debit and increase with a credit.
What is accounts payable contact?
Very simply, your accounts payable contact is the person you call to find out about the status of a payment or perhaps to resolve a dispute on an invoice. Some companies have one person in accounts payable who handles this function. However most let individual processors handle the queries for the companies whose invoices they process.
Is short term debt the same as current liabilities?
Current liabilities are liabilities that are due within 12 months. Short term debt is a current liability. However, there are other current liabilities. For example, taxes payable, interest payable, wages payable, accounts payable. Therefore, short term debt is not the same as current liabilities. (Short term debt is a current liability, but not all current liabilities are short term debt.)
What happens when service such as medical care is provided free of charge?
When services such as medical care are provided free, more people have access to essential services. However, the government may have to raise taxes to fund these services.
What are the liabilities account titles?
Accounts payable - is an obligation of the entity to pay a sum amount of money, that arises from the buying of goods and services on credit terms in the ordinary course of the business.Loans payable - obligations of an entity that arises from the borrowing of money from a lender.Unearned revenues - obligations to supply goods and services that is a result of advance payments of customers.Notes payable - almost the same as accounts payable, the only difference however is the fact that the liability is evidenced by a non-negotiable promissory note.Mortgage payable - obligations for long term borrowing in which a fixed asset, usually a land or building is use as a collateral.Salaries and wages payable - are obligations to employees to pay an agreed just compensation for rendering services for the entity.13-liability-accounts#ixzz1yNfijHWq
Are rehabilitation services usually provided at most hospitals or are the services provided in a separate center?
"Some hospitals provide rehabilitation services for a short while after surgery. However, if a patient needs long term or intensive rehabilitation, they will be transferred to a special facility."
Why most popular services provided by ISPs?
The most popular services provided by your Internet Service Provider would be your internet. Internet is what a ISP does. However many companies are trying to offer stuff like Cable for your house included.
What is the Difference between account payable and accrued expense?
Accounts Payable are supported by invoices or billing statements. Accrued Expenses are expenses which relate to the current period; however, there is not an invoice on hand. For example, the company lawyer bills the company for his services on an invoice on the 15th of each month, you would post his invoice in Accounts Payable and accrue legal fees for the 16th to the end of the month.
What is a payable on death clause?
On your death, however you may die, any money due you from an insurance policy, or other source, is immediatley payable to your estate.
What are the three major water services provided by metropolitan areas?
There are quite a few water services provided in metropolitan areas. In American cities, there are free fountains one can drink from and public pools. However, in non-American cities there are also public baths and hotsprings available as a service as well.
Where can someone find more information on litigation services?
Litigation services can be provided by any lawyer, however there are lawyers that specialize in certain lawsuits so it would be prudent to get information from a lawyer that specialize in the particular lawsuit.
What services are provided by Kiawah Island Hotels?
The main activity at this location seems to be golf. However, the hotels provide the usual services such as concierge, business and conference centers, and fitness centers. Some even provide car hire and a baby sitting services.
Will a credit always decrease a cash account?
A cash account will always be decreased by a credit, but a credit will not always decrease a cash account. The only time a credit decreases cash is when the company pays out cash, whether it's to purchase supplies, inventory, or pay wages etc. Here is two examples of a credit in a transaction, one will decrease cash, the other will not. Company X buys $1,000 in inventory from Company Y and pays CASH. The debit for this transaction will increase inventory, the credit will decrease cash since company X is paying cash for this transaction. Using the same transaction however, changing Company X wants to purchase this inventory on "credit" the debit in this transaction as above will still increase inventory, however, since Company X has chosen to purchase this inventory on credit and not use cash and accounts payable will be set up and the credit will "increase" accounts payable. Remember, Assets will "always" increase with a debit and decrease with a credit. Liabilities will "always" decrease with a debit and increase with a credit.
Tammany hall provided immigrant with what?
Coal, food, and money
What are some services provided by allstate?
Allstate is primarily known for car insurance. However they also provide coverage for property, life/retirement and even power sports!
