Sundry Creditors
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.
No, it is a Liability and will thus be presented on the Balance Sheet (Statement of Financial Position)
Accounts payable is of liability nature as it is payable in future so it is shown under liability side of balance sheet and not in income statement.
Balance sheet of the company shows the total amount of accounts payable for a fiscal year of business.
it is shown with changes in accounts payable amount if there is change in accounts payable it will shown in cash flow statement.
Accounts Payable belongs in the Balance Sheet as a Current Liability.
No. Accounts payable is a liability account, which is used in the balance sheet.
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.
No, it is a Liability and will thus be presented on the Balance Sheet (Statement of Financial Position)
yes accounts are payable on the income statement and balance sheet.
A decrease in accounts payable is recorded as a debit on the financial statements.
Accounts payable is of liability nature as it is payable in future so it is shown under liability side of balance sheet and not in income statement.
accounts payable is account in balance sheet
Statement of Financial Position - Liabilities
Balance sheet of the company shows the total amount of accounts payable for a fiscal year of business.
it is shown with changes in accounts payable amount if there is change in accounts payable it will shown in cash flow statement.
By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.