--%>
Assignment Help - homework help

Define the term Accounts Payable

Accounts Payable: It is an accounting entry which symbolizes an entity's obligation to pay off a short-term debt to its creditors. Accounts payable entry is found on balance sheet beneath the heading current liabilities. Accounts payable are frequently termed to as "payables".

The other common usage of AP (Accounts payable) refers to a business department or division which is responsible for making payments owed by the company or organization to the suppliers and other creditors.

   Related Questions in Financial Accounting

  • Q : Review the accounting cycle the

    Assignment: The purpose of this assignment is to review the accounting cycle--the procedures that businesses normally use to record transactions during the year and prepare financial statements at the end of the year.  The accounting cycle is discussed in Chapter 3 of your textbook. &nb

    		•
  • Q : Meaning of Bill and Hold What is the

    What is the meaning of Bill and Hold in Accounting? Briefly describe it.

    		•
  • Q : Pricing spill-over effect Discuss

    Discuss pricing spill-over effect.

    		•
  • Q : Firms attaining the U.S. firms

    Presently, several foreign firms from both the developed and developing countries attained high-tech U.S. firms. What would have motivated these firms in order to attain the U.S. firms?

    		•
  • Q : Liabilities and Assets in Balance Sheet

    Why Liabilities are always on the left side and Assets on right side in the Balance Sheet?

    		•
  • Q : Define deviance Define deviance ; give

    Define deviance; give three illustrations of deviant behavior and use them to explain why deviance is socially constructed.

    		•
  • Q : Sharpe performance measure concept

    Explain the Sharpe performance measure concept.

    		•
  • Q : Social issues & person statuses Think

    Think of person you will who often irritates you or whose behaviour greats on your nerves. First list that person statuses and role then analysed his or her possible role expectations, role performance, role conflict and role strai

    		•
  • Q : Advance methods which are used in banks

    What are the advance methods which are used in banks presently?

    		•
  • Q : Prepare the journal entry to record the

    The Webster Company uses the aging method to estimate the allowance for doubtful accounts. The following schedule of accounts receivable was prepared as at December 31, 20x6: Age Balance % uncollectible 0-30 days $674,000 0.5% 31-60 days 186,000 1.2% <

    		•