Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
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.
It is classified under Long-term Debt/Liabilities
Bonds Payable would be a liability and therefore normally maintain a credit balance.
Yes bonds payable means liability..first of all wherever the word payable denotes for paying that shows liability
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
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.
It is classified under Long-term Debt/Liabilities
Bonds Payable would be a liability and therefore normally maintain a credit balance.
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.
deductions
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.
Yes bonds payable means liability..first of all wherever the word payable denotes for paying that shows liability
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
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.
no, it is current liability
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
True