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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
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.
Are creditors accounts payable or accounts receivable?
Accounts Payable
Who is responsible for posting authorized credits to accounts payable?
Accounts Payable clerk
