0
This question actually caught my attention. The term payable is something a company "owes" but has not yet paid. Pledge, I am gathering, would be literally a "pledge" to pay a certain amount to perhaps a Charity or some other cause.
Many Charities have "Pledge" drives to raise money and occasionally companies make "Pledges" to donate a certain amount. If they record this in their books as a payable, it's safe to assume that they "PROMISE" or "PLEDGE" to donate this amount and are recording it in their books as a Payable.
What else can I help you with?
WHAT IS etd payable?
ETD payable = Employer Tax Deductions Payable
Difference between account payable and bills payable?
Accounts Payable releted to Creditors and Bills payable releted to bank.
How are a schedule of accounts payable prepared?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe". ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability. Rahul
Is salaries payable a liability?
Salaries payable is liability payable in future time period.
Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
WHAT IS etd payable?
ETD payable = Employer Tax Deductions Payable
Difference between account payable and bills payable?
Accounts Payable releted to Creditors and Bills payable releted to bank.
How are a schedule of accounts payable prepared?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe". ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability. Rahul
What is a charitable pledge?
its a pledge
Is salaries payable a liability?
Salaries payable is liability payable in future time period.
Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
What are the procedures account payable?
acoounting payable
Is payable debit or credit?
payable is credit
What is Ecuador pledge?
The pledge of ecuador?
What is the Australian pledge?
There is no Australian pledge.
Who is responsible for posting authorized credits to accounts payable?
Accounts Payable clerk
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
