Notes payable is same like accounts payable a liability of business and it is shown under current liability section of balance sheet.
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.
No they belong under the liabilities section on a Balance Sheet
No, it is a Liability and will thus be presented on the Balance Sheet (Statement of Financial Position)
Notes payable is same like accounts payable a liability of business and it is shown under current liability section of balance sheet.
deductions
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.
Sales commission payable is not part of income statement and it is shown in balance sheet as current liability in liability side of balance sheet.
1. Income tax payable is the liability which is to be paid in future that;s why it will be shown in balance sheet liability side under current liabilities.
No they belong under the liabilities section on a Balance Sheet
Loan interest payable is not shown in income statement rather it is shown in liability side of balance sheet in current liability section.
No, it is a Liability and will thus be presented on the Balance Sheet (Statement of Financial Position)
Answer:No. The income statement shows revenues and expenses. Bills payable is a liability (the company has an obligation to pay), and is included on the credit (right) side of the balance sheet.
Dividend payable become liability for business as soon as it declared to be paid and all future liabilities are part of balance sheet so dividend payable also shown under liability section of balance sheet and not part of income statement.
It depends on transactions all receivables and payable are part of balance sheet while actual revenue or expense in part of income statement.