here's a financial dictionary definition; the actual term is Payment In-Kind - PIK The use of a good or service as payment, instead of cash. Also known as "paid in-kind." Notes:A good example is a farmhand who is paid room and board for helping out on the farm instead of earning wages.
Another example is the use of securities instead of cash as a deposit into a retirement savings plan. here's the link;
http://financial-dictionary.thefreedictionary.com/Payment+In-Kind+-+PIK
The meaning is color and shape. Why look for some kind of hidden meaning? It's not there.
Assets are distributed "in kind" when the asset itself is ditributed. E.g. if a decedent leaves stock to someone it is distributed in kind when title to the stock certificates is transferred from the decedent's name to the beneficiary's name.
Deferred rent payable is the sum of the difference between a monthly rent payment and the monthly rent expense of an operating lease that contains escalated payments in future periods. The rent expense is the sum of all rent payments over the term of the lease divided by the number of periods contained in the lease otherwise known as straight-line amortization. This rent expense amount can/may differ from the monthly rent payments. The difference is deferred rent payable.
"Chamois" is fundamentally a noun (meaning a kind of animal) but can also be used as a "substantive adjective" as in "chamois skin".
Fresco Paints meaning fresh paint in English
whats is the meaning of payable schedule?
Notes Payable is a Liability.
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe".
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
I am assuming you meant "when" a payable is paid?A "payable" is a liability to the company, it is something they owe. For example, Account Payable. Liabilities maintain a credit balance, meaning they increase with a credit and decrease with a debit.In short, when you "pay" the payable, you are decreasing what you owe by the amount paid and therefor will "debit" the payable account.
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
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
Yes accounts payable is non-formal kind of source of finance because every company allows time for payment of accounts payable and due to that reasons it is source of finance for that time period.
A Note Payable is a liability to the company and is listed under liabilities. This with any other account you find that is called a "payable" is a liability. A "payable" account refers to money owed by the company that has not yet been paid, but will be paid in the near future. These include anything from Accounts Payable to Wages and even Income Taxes Payable. Just remember the key term is "payable", meaning owed but not yet paid.