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What does it mean when the Accounts Payable account balance has increased on the Trial Balance?
accounts payable are the amounts owing by the business to its creditors.in a situation where the accounts payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.
What is the journal entry for Outstanding amount owing to Office Supplies?
debit office suppliescredit accounts payable
Is receiving payment from account customer a liability?
Because money is being received from customer we are not owing.
What is the appropriate classification of customers accounts with credit balances in a balance sheet?
If a customers account has a "credit" balance, this means the company owes that customer rather than the customer owing the company. Customer accounts tend to have a debit balance, meaning the customer owes the company that amount. It is rare when a company owes a customer, if this does happen, the account becomes a liability instead of an asset because of the fact that now the company owes money rather than is "owed" money.
If your company is owed money from a company that goes into Chapter 11 what do you need to do?
If a company goes into a Chapter 11 owing your company money, you need to submit a claim to the bankruptcy court yesterday.
What does it means it the accounts payable balance has increased on the Trial Balance?
Accounts Payable are the amounts owing by the business to its creditors.in a situation where the Accounts Payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.
What does it mean when the accounts payable balance has increased on the trial balance?
Accounts Payable are the amounts owing by the business to its creditors.in a situation where the accounts payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.
What does it mean when the Accounts Payable account balance has increased on the Trial Balance?
accounts payable are the amounts owing by the business to its creditors.in a situation where the accounts payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.
What is the term for people owing money?
The term for people owing money is "debtors." Debtors are individuals or entities that have borrowed money and are obligated to repay it, often under specific terms and conditions. In a broader context, the term "indebtedness" describes the overall state of owing money.
What do you call a person owing you money?
Debtor.
What is a record of money owing or spent?
A——T
What rhymes with owing money?
Flowing honey
When to use owing to or due to?
Due to the fact I lost my job, I ended up owing money to the credit card company.
What is the journal entry for Outstanding amount owing to Office Supplies?
debit office suppliescredit accounts payable
Is there jail for owing money?
Generally, no, it is possible if it is for an outstanding fine
What where the main provisions of the Currency Act of 1764?
America was getting rich by not owing anyone interest on the money they were printing themselves. Great Britain viewed America as becoming too independent. The Currency Act of 1764 was another straw that lead to the America Revolution.
What is revenue owing?
Revenue owing refers to the amount of money that a business is entitled to receive for goods or services provided but has not yet been collected. This can include outstanding invoices, accounts receivable, or sales made on credit. It represents a potential cash inflow for the business and is crucial for evaluating its financial health and cash flow management. Proper tracking of revenue owing helps businesses manage their finances effectively and ensure timely collections.
