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Accounts Payable refers to the due against the company for services that the company may have received from suppliers. It's a liability and would fall under the category of 'current liabilities'.
What else can I help you with?
Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
Is account payable asset or liability?
accounts payable is a liablity.
Is accounts payable a fixed assets?
Accounts payable is not a fixed asset rather it is a liability for company and shown in liability side of balance sheet.
Payment of accounts payable increase or decrease current ratio?
It depends from which source accounts payable are clearing if it is from current asset then it will reduce the current ratio
From a company's point of view what are accounts payable?
Bills. Accounts payable is money we pay for services and/or equipment. It's usually a negative toward the equity unless it is a payable for a net asset.
Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
Is account payable asset or liability?
accounts payable is a liablity.
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 a fixed assets?
Accounts payable is not a fixed asset rather it is a liability for company and shown in liability side of balance sheet.
Payment of accounts payable increase or decrease current ratio?
It depends from which source accounts payable are clearing if it is from current asset then it will reduce the current ratio
From a company's point of view what are accounts payable?
Bills. Accounts payable is money we pay for services and/or equipment. It's usually a negative toward the equity unless it is a payable for a net asset.
What is the difference for account receivable and accounts payable?
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
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
Journal entry of credit purchase of asset?
Debit assetsCredit accounts payable
What accounts would appear in the balance sheet?
The asset(e.g.cash, marketable securities, accounts receivable, inventories, land, building, etc..) , liabilities(e.g.accounts payable, notes payable, accruals, mortgage payable, etc..), and equity accounts (e.g.ordinary share capital, preference share capital, ordinary share premium, preference share premium, retained earnings.. etc.) appear in a balance sheet. As it is called balance sheet, the asset accounts must be equal with the liabilities and equity accounts (asset = liabilities + capital).
Which normally has a credit balance - accounts receivable or notes payable?
Notes Payable is a liability, so it would normally have a credit balance. Accounts Receivable is an asset which would normally have a debit balance.
Is accounts payable asset?
Accounts Payable refers to the due against the company for services that the company may have received from suppliers. It's a liability and would fall under the category of 'current liabilities'.
