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A firm would delay the payment of Accounts Payable because they could use the money to invest in short term investments and earn some return
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What is an increase in Accounts Payable?
An increase in Accounts Payable means that the company has received more invoices that are due for payment.
When services are rendered but payment is not made which account would be increased?
Accounts payable
Payment on a portion of Accounts Payable will?
decreases the liability.
Responsible for payment?
The Accounts Payable clerk is responsible for providing payment on an account.
What are the accounts payableS on the trial balance?
Accounts payable is a short-term liability representing cash owed to vendors. When a company is invoiced by a vendor, accounts payable is increased. When payment is rendered, the accounts payable balance decreases.
What is an increase in Accounts Payable?
An increase in Accounts Payable means that the company has received more invoices that are due for payment.
When services are rendered but payment is not made which account would be increased?
Accounts payable
Payment on a portion of Accounts Payable will?
decreases the liability.
Responsible for payment?
The Accounts Payable clerk is responsible for providing payment on an account.
When an accounts payable account is paid in cash the owner's equity in the business decreases True or False?
False. Payment of an accounts payable reduces cash and reduces accounts payable. Equity is not affected.
What are the accounts payableS on the trial balance?
Accounts payable is a short-term liability representing cash owed to vendors. When a company is invoiced by a vendor, accounts payable is increased. When payment is rendered, the accounts payable balance decreases.
What is meant by coding in accounts payable?
Coding in accounts payable nothing but an invoice number which will be generated automatically towards customer transation or a payment.
Which entries records the payment of an account payable?
Debit (decrease) accounts payable and then credit (decrease) cash.
What is the debit and credit in made a payment on accounts payable?
account payable account debit to bank account
Why would Accounts payable increase?
payment to account payble has increase
Payment of accounts payable increase or decrease current ratio?
It depends from which source accounts payable are clearing if it is from current asset then it will reduce the current ratio
Payment of accounts payable will have what effect on total assets?
Payment of account payable will reduce the total assets. When you pay your bills, you take money out of your account.
