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Is bonds payable debit?
Bonds payable is liability for business which is refundable in future and like all liabilities which have credit balance as default balance bonds payable also has credit balance as default balance.
How is the Bonds Payable account classified on the balance sheet?
It is classified under Long-term Debt/Liabilities
Is bonds payable normally debit or credit?
Bonds Payable would be a liability and therefore normally maintain a credit balance.
Are bonds payable a current liability?
Yes bonds payable means liability..first of all wherever the word payable denotes for paying that shows liability
What type of account is accounts payable?
Salary Payable, like other payable accounts are liabilities. It's something the company owes, therefor they are "liable" for that amount making it a liability. Once paid it is then an "expense"For example, you have $5,000 in salaries to pay, but you won't pay them until the following month, in accrual accounting we would do two entries for this transaction.Salary Expense (debit) $5,000Salaries Payable (credit) $5,000Because Salary Payable is a liability account it maintains a credit balance and is increased with a credit and decreased with a debit. Once the salaries are paid the adjusting entry would be:Salaries Payable (debit) $5,000Cash (credit) $5,000its nominal account & this Entry is salary a/c
Is bonds payable debit?
Bonds payable is liability for business which is refundable in future and like all liabilities which have credit balance as default balance bonds payable also has credit balance as default balance.
How is the Bonds Payable account classified on the balance sheet?
It is classified under Long-term Debt/Liabilities
Is bonds payable normally debit or credit?
Bonds Payable would be a liability and therefore normally maintain a credit balance.
How is the bonds payable classified on the balance sheet?
Bonds payable is classified as liability in balance sheet. That portion which is payable in current fiscal year as current liability while remaining portion as non-current liability.
Does bonds payable go to balance sheet or income statement?
deductions
Bonds payable are reported on the balance sheet at?
bonds payable are shown in balance sheet under current as well as non-current liability portion as that much amount which is payable within current year is current liability and remaining is non-current liability.
Are bonds payable a current liability?
Yes bonds payable means liability..first of all wherever the word payable denotes for paying that shows liability
What type of account is accounts payable?
Salary Payable, like other payable accounts are liabilities. It's something the company owes, therefor they are "liable" for that amount making it a liability. Once paid it is then an "expense"For example, you have $5,000 in salaries to pay, but you won't pay them until the following month, in accrual accounting we would do two entries for this transaction.Salary Expense (debit) $5,000Salaries Payable (credit) $5,000Because Salary Payable is a liability account it maintains a credit balance and is increased with a credit and decreased with a debit. Once the salaries are paid the adjusting entry would be:Salaries Payable (debit) $5,000Cash (credit) $5,000its nominal account & this Entry is salary a/c
What are some examples of liabilities that a company may have?
Some examples of liabilities that a company may have include loans, accounts payable, accrued expenses, and bonds payable. Liabilities are obligations that a company owes to external parties and are recorded on the company's balance sheet.
Is bonds payable a noncurrent liability?
no, it is current liability
Is bonds payable a current liability account?
Yes, Current Liabilities are liabilities that will be paid off in one year or less. Accounts payable is where you record such liabilities. If it's a payment that will be made in more than one year..yesYes its a current liablity
Bonds are a form of interest-bearing notes payable?
True
