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Maturity value of an interest-bearing note payable is the?
Face value plus interest.
If a company converts a short-term note payable into a long-term note payable what would this transaction do?
decrease the current ratio and decrease the acid-test ratio
What are the differences between account payable and note payable?
Account payable is created when goods purchased on credit from vendors but if note is issued to vendor until maturity date to be used to fulfil needs then that note is called notes payable.
Payment on a long term note payable affects working capital whereas payment on a short term note payable does not why?
ARE YOU DOING ANNAMALAI UNIVERSITY M.B.A.? I HAVE SAME QUESTION TOO... CONDUCT ME ... VENKATRAMAN.RAMESH @YAHOO.CO.IN
What kind of account is Note Payable - shareholders?
Notes Payable is a Liability.
Maturity value of an interest-bearing note payable is the?
Face value plus interest.
What is the definition of offset accounting?
One that reduces the gross amount of another account to derive a net balance. Accumulated depreciation, which is a contra account to fixed assets to obtain book value, is an example of an offset account. Discount on note payable, which is a reduction of notes payable to derive the carrying value, is another example.
Payment on a long-term note payable affects working capital whereas payment on a short-term note payable does not why?
Foolish questions are not answered
If a company converts a short-term note payable into a long-term note payable what would this transaction do?
decrease the current ratio and decrease the acid-test ratio
What are the differences between account payable and note payable?
Account payable is created when goods purchased on credit from vendors but if note is issued to vendor until maturity date to be used to fulfil needs then that note is called notes payable.
Payment on a long term note payable affects working capital whereas payment on a short term note payable does not why?
ARE YOU DOING ANNAMALAI UNIVERSITY M.B.A.? I HAVE SAME QUESTION TOO... CONDUCT ME ... VENKATRAMAN.RAMESH @YAHOO.CO.IN
What kind of account is Note Payable - shareholders?
Notes Payable is a Liability.
Can short-term notes payable be replace as an account payable?
Generally as a rule this does not happen. Notes Payable refer to a liability that will be paid off in more than a year. An account payable is a liability that will be paid off in less time than that, within one year or less (or accounting period). It is generally easier to take an account payable and convert it into a note payable and really pointless to do the reverse.A note payable involves a promissory note, while an account payable does not. Even if the company chooses to pay off the note payable earlier than expected, there is no real reason to convert it from a note payable to an account payable, if they wish to do this to try and save on interest expense that is pointless as well, if the note is paid off early, then the company will not be charged the full interest anyway.Now to really specify the answer to your "exact" question. A short-term note is an account payable. They are one in the same. A short-term note payable is a payable that is expected to be paid off with in one year or less.
What is the difference between notes payable and accounts payable?
A note payable is a tangible note between you and another company that you will pay them back for a good or service they sold you. An account Payable is an allocation base for all of your notes payable. so for example i could have a note payable to company A for $100, Company B for $500, and Company C for $300, and my accounts payable would be $900
What is entry for new note payable?
[Debit] Goods purchased [Credit] notes payable / accounts payable
What is the journal entry for issued a note payable?
debit accounts payablecredit notes payable
What the journal entry to record a note payable?
debit Cashcredit notes payable
