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Debit notes payable and interest expense
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∙ 14y ago
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What is interest payable?
Interest payable is the interest the company pays on any loans, leases, hire purchases, debentures, etc. throughout the year.
Who pays the utility bills in a corporation?
Bills to companies and corporations are usually sent to the accounting department; a segment of accounting is 'accounts payable'.
Is an accounts payable created when your company pays cash for a purchase?
An Accounts Payable is created when...
Who pays taxes within an S corporation?
Corporation Shareholders
Who pays the taxes within an S corporation?
Corporation Shareholders
What interest payable?
Interest payable is the interest the company pays on any loans, leases, hire purchases, debentures, etc. throughout the year.
What is interest payable?
Interest payable is the interest the company pays on any loans, leases, hire purchases, debentures, etc. throughout the year.
Who pays the utility bills in a corporation?
Bills to companies and corporations are usually sent to the accounting department; a segment of accounting is 'accounts payable'.
What is a zero-coupon note?
A zero-coupon note is a note which pays at maturity the value of the note with no separate interest payments.
Is an accounts payable created when your company pays cash for a purchase?
An Accounts Payable is created when...
Who pays taxes within an S corporation?
Corporation Shareholders
Who pays the taxes within an S corporation?
Corporation Shareholders
Impact on accounts payable if the company pays the account?
An account payable is a debt the company owes and maintains a credit balance, the impact on the account if a company pays the debt is a decrease in what the company owes or a decrease in the account payable. This means a debit will be added to the account to "decrease" the balance.
Who pays the interest you get from your bank?
The bank pays it to you. The interest reflects the return on the capital you have loaned to the bank.
If you face a garnishment but your employer pays your corporation and not you directly will your sub S corporation's wages be taken?
Then the corporation that pays the employee wages has the duty to withhold any earnings according to the specific garnishment.
What is stretching account payable?
Stretching accounts payable has to do with making payments. When a company makes the payment after the due date, yet only pays what is due, not any penalties. This is stretching accounts payable.
What type of interest pays interest on principal only?
simple interest
