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Are Advance paid a current asset or current liability?
advance paid is current asset and advance received is current liability.
Is a security deposit a current asset or current liability?
Current Asset
Is Creditors an asset or liability?
Current Liability
Sundry creditor is a -------------- 1.current liability 2.long term liability 3.current asset. 4.fixed asset.?
Sundry creditor is current liability.
Is expenses owing a current liability or a current asset?
expense owing is a current asset
Are Advance paid a current asset or current liability?
advance paid is current asset and advance received is current liability.
Is a security deposit a current asset or current liability?
Current Asset
Is Creditors an asset or liability?
Current Liability
Is ending inventory asset or liability?
asset Inventory is a current asset so when the required inventory is utilized the remaining inventory still remain as asset and not become liability. For example inventory of $100 purchase to use for production which is our current asset. when inventory of $90 utilized the remaining $10 is still our current asset while $90 become expense for production of units.
Sundry creditor is a -------------- 1.current liability 2.long term liability 3.current asset. 4.fixed asset.?
Sundry creditor is current liability.
Is expenses owing a current liability or a current asset?
expense owing is a current asset
Is accounts recievable a current liability?
Accounts receivable is a current asset, never a current liability.
Is interest payable a current asset?
No it is a current liability
Is ending inventory in business an asset or liability?
Assets
Is owner's capital a current asset or other asset?
None!- Its liability.
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
What is the formula for current ratio?
current ratio = current asset divided by current liability
