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What type of account is debtors account?
Accounts Payable.
What type of account is an accounts payable?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe".
What type of account is sales tax payable?
Liability
What account type is accounts payable?
Accounts payable is a liability account. When something is purchased on account it falls under this category such as purchasing $10,000 worth of office supplies on account. You would debit the office supplies account under assets and credit accounts payable under liabilities.
How do you recognize account payable?
Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.
What type of account is bills payable account?
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. This is because a "payable" is something you (your company) owes but has not paid yet. For a bill such as Phone, once the obligation is met it is no longer a liability but an expense.
What are the procedures account payable?
acoounting payable
Accounts payable is considered a what on trial balance credit or debit?
An account payable is a liability and would be considered a credit. Remember liabilities maintain a credit balance. Even when listing on the Trial Balance, all liabilities (including accounts payable) will be shown as their actual type, hence account payable is a credit.
What is the debit and credit in made a payment on accounts payable?
account payable account debit to bank account
Does The Salaries Payable Control account has underlying subsidiary ledger?
Type your answer here... True
What type of account are Wages payable?
it's a liability account, it is use to record the amount of money employer owe to employee
What is Accounts Payable the compliance?
account payable is the liability of creditor.
