Accounts Payable

Current liabilities are those debts which are due and payable within 1 year. Non-Current Liabiities are those which fall due in more than 1 Year. A long term loan payable over 5 years is both a current and non current liability. The portion payable within 1 year is current while the remaining porton payable from year 2 to 5 is non current.

As a individual taxpayer any thing that you own is a current personal asset. An individual taxpayer can also have some business assets to be counted you would add the value of all of those items and Current liabilities are those debts which are due and payable within 1 year. Non-Current Liabilities are those which fall due in more than 1 Year. A long term loan payable over 5 years is both a..

Paying off accounts payable not affect net income because it is charged to income statement already at time of purchases now it is just the payment of cash which charge cash only.

To look up your pay stubs for Reebok, you can typically access them through the company's employee portal or HR system. Log in with your employee credentials, and navigate to the payroll or pay stub section. If you encounter issues or don’t have access, it’s best to contact your HR department for assistance. Additionally, some companies may provide physical copies or send pay stubs via email, so check those options as well.

It means 30 days after the date the invoice is received.The balance due on your bill. In other words, your entire bill must be paid within 30 days.

accounts payable is a liablity.

If you do a Trial Balance and your Credits Equal your Debits, then more than likely your books are correct. In double entry accounting the debits and credits must balance or be equal.Accounts payable's normal entry is credit. when it is at the debit side it could mean: reversal of accounts payable which happens at the end of accounting period, or return of merchandise purchased,...

You may have a category of sundry, or miscellaneous, creditors on the books for occasional or small vendor relationships, rather than setting up a separate vendor account for these infrequent.

If we provide some services to the vendors they are paying for our services therfore the person who are paying us becomes our sundry debtors.

I liability that may be incurred depending upon future event(s)

Example- let there is a claim on a company existence of that liability is depends on decision of court so existence of that liability is uncertain so we can say that contigent liability is that liability which may occur or may not. ..

One could write a letter to a bank manager for a cash deposited in the wrong account name with the same account number but it is recommended that one go to the bank immediately and speak with the manager directly about the mix up, as well as to request an account number that is not shared by another person,

Remember the basic accounting equations Assets = Liabilities + Owners Equity (Stockholders Equity)

Assets increase with a debit

Liabilities as well as Equity increase with a credit

Liabilities have a credit balance (meaning you must credit the account to "increase" it and debit the account to "decrease" it) this makes liabilities a credit.

Accounts payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.

these are the risks that banks face: 1.Operational 2.Market 3.Financial There also additions risks which Regulators look at and expect banks to have addressed. The complete list is: 1. Strategic...well the types of risks is up to you and your brain, if you are fine with climbing a rock climbing wall then your brain doesn't think RISK RISK RISK but instead it says FUN FUN FUN so people with...

I think in this question something is missing : The Expense A/c or Service A/c Dr from which regards we have liability to payand Cr. the Account payable A/c.For example : We purchased goods from BM...Accounts Payable Cash/Bank/Goods etc

are closed out and then updated

Yes that is a normal thing to request.

accounts payable are the amounts owing by the business to its creditors.in a situation where the accounts payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.

Anything a company owes and must pay can be listed as a payable. From employee wages, to taxes, to mortgages, rent, bills etc. All of these can be listed as a payable at some point during the accounting period. They may not always have to be, but can be.

Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of...Though I honestly never heard of a company paying a Salary in advance, the journal entry would be: Prepaid Salary (debit) $$$$ Cash (credit) $$$$ It would be like paying any other expense in advance,...

The utility of management accounting is to take active and timely decision.

Trade Creditors

Accrued expenses

Prov. for annual leave

Prov. for taxation

Income in advance

Cash dividend affects the cash and remaining items does not have any effect on cash like depreciation or accounts payable.