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No, generally a utility deposit is not a payable. On the rare chance that the company allows you to "make payments" on the deposit, until it is paid, the it would be a payable, however, that generally is not the case. A utility deposit is generally required as a "security" deposit to the company providing the service and as a rule must be paid in advance before said service can be activated. Most companies after a prescribed amount of time will and certain requirements are met (no late payments, no disconnection, etc) will refund the deposit to the person/company. If this is the case, then a utility deposit that may be refunded after a certain period of time is actually considered an asset.
What else can I help you with?
What is accounts payable considered on trial balance?
Accounts payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.
Is Accounts Payable considered a debit on the Trial Balance?
No, it is a Credit because Accounts payable is a Liability account.
Why is Accounts payable considered a debit on trial balance?
It is NOT, accounts payable is never considered a debit on any financial statement. Accounts Payable is a liability that a company owes and therefore must maintain a "credit" balance.
Accounts Payable is considered a on the Trial Balance?
yes, liability accounts are on the trial balance.
Accounts Payable is considered a part of which of the following?
Current liabilities.
What is accounts payable considered on trial balance?
Accounts payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.
Is accounts payable considered an asset or a liability on a company's balance sheet?
Accounts payable is considered a liability on a company's balance sheet.
Is Accounts Payable considered a debit on the Trial Balance?
No, it is a Credit because Accounts payable is a Liability account.
Why is Accounts payable considered a debit on trial balance?
It is NOT, accounts payable is never considered a debit on any financial statement. Accounts Payable is a liability that a company owes and therefore must maintain a "credit" balance.
What liabilty accounts are liabilities that naturally occur?
Accounts payable and accruals. Notes payable and other long term liabilities accounts are considered to be a financing activities.
Accounts Payable is considered a on the Trial Balance?
yes, liability accounts are on the trial balance.
Accounts Payable is considered a part of which of the following?
Current liabilities.
Accounts Payable is considered a part of?
They are found in the current liabilities.
What is accounts payable considered on the trial balance sheet?
liability
Are creditors accounts payable or accounts receivable?
Accounts Payable
Who is responsible for posting authorized credits to accounts payable?
Accounts Payable clerk
Accounts payable is considered a what on trial balance credit or debit?
An account payable is a liability and would be considered a credit. Remember liabilities maintain a credit balance. Even when listing on the Trial Balance, all liabilities (including accounts payable) will be shown as their actual type, hence account payable is a credit.
