Interested to Buy Any Domain ? << Click Here >> for more details...
What is Accout Payable and receible
- 3 Answers
- 6882 Views
- TATA, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sunitha
when a company sold goods for credit the amount to be
received in the future date is shown as accounts
receivable, it is the current asset for the company, so
shown under the current liabilities of b/s.
In the same way when the company bought goods on
credit, the amount to be received in the future are called
bills payble, it is shown under current liabilitis of
balance sheet.
| Is This Answer Correct ? | 8 Yes | 6 No |
Answer / praveen
when a company sold goods for credit the amount to be
received in the future date is shown as accounts
receivable, it is the current asset for the company, its
under come (current Asset) subsequently account payable means
the same company has made credit purchase, the amount will
be paid in future is going to be account payable and its
come under creditors for suppliers (Current liabilities)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / bharathi
In simple terms - Accounts Payable - means Sundry Creditors
it comes under Current Liabilities in Balance Sheet
The Supplier who is supplying goods in Credit is known as
creditors.
Accounts receivable means Sundry Debtors it comes under
Current Assets in Balance Sheet. The Buyer who is buying
goods from us on credit basis is known as Debtors.
| Is This Answer Correct ? | 1 Yes | 0 No |
what is meant by mid-cap?
current ratio? asked on 30/7/09
What is meant by Salaries Outstanding Accounts?
Expalin about the distinction between Profit and loss a/c and balance sheet
HOw to exceed the funding budget amount limit in actual ledger?
What is debit side of dividend?
bad debts means
In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping
What are the general Ledgers?
Expand--------SSS
Short Answer on ________Ad-Valorem Duties
What exactly balance sheet depicts
Audit 
