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What is capital expenditure creditor?

Payable towards capital (equipments) expenditure.


What is the purpose of doing the calculation Beginning salaries and wages payable PLUS Salaries and wages expense MINUS cash payments to employees EQUALS Ending salaries and wages payable?

The main purpose of this calculation is to find the salary and wages payable liability to show in the liability side of the balance sheet.


What do Current liabilities include in accounting?

Accounts Payable, bank overdraft, GST payable


What are accounts found in a balance sheet?

Basic accounts found on the balance sheet include : ASSETS Cash, Marketable Securities, Accounts Receivable, Inventory, Prepaid Expenses,Investments (Long Term), Plant & Equipment(Less Depreciation) LIABILITIES Current Liabilities include: Accounts payable, Notes, Payable, Accrued Expenses, Long Term Liabilities include: Bond Payable Stockholders Equity include: Preferred Stock, Common Stock, Capital Paid in excess of par, Retained Earning, less Treasury Stocks.


Payment on a long-term note payable affects working capital whereas payment on a short-term note payable does not why?

Foolish questions are not answered


Is vacation pay payable on bonus amounts paid?

A bonus is exactly that, a bonus. There is no requirement for there to be any calculation regarding a bonus.


What is a list of the Permanent Accounts in Accounting?

Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Wages Payable, Capital


Is additional paid in capital an asset?

Additional paid in capital is an asset to a business. If this type of capital has to be paid back to a financial institution, then it will also become an accounts payable or liability.


Wages belong to which expenses?

Wages Payable, or Payroll Liabilities. Also, classifies as Capital Expense.


What are the accounting journal entries for guaranteed payments to partners?

Debit:Partners Capital Credit: Accounts Payable


Can you provide examples of assets and liabilities in a company's financial statements?

Assets in a company's financial statements include cash, inventory, equipment, and investments. Liabilities include loans, accounts payable, and bonds payable.


Is notes payable an asset or a liability?

Accounts Payable and Notes Payable are liabilities. Accounts receivable - assets All "payable" accounts are "liabilities". This is because a liability is something the company OWES, a payable is the very same thing, hence the term "payable". Though some payable accounts change from being a payable to an expense, they are still liabilities as long as they are "payable", these include: Interest Payable (liability until paid, then reverts to Interest Expense) Salary or Wages Payable(liability until paid, then reverts to salary or wage expense) Payable accounts maintain a "credit" balance, meaning they increase with a Credit and Decrease with a debit. Now the quick answer: Payable = Liability Receivable = Asset