When it comes to building out a balance sheet, an organization’s accounts payable come into play. As you work through a balance sheet, you’ll need to determine whether accounts payable are an asset or ...

"Accounts payable" and long-term debt are accounting terms referring to specific entries on the balance sheet of a business. Although, both represent funds owed by your business, knowing the ...

Tax Payable is a liability account that represents the payroll, sales and other taxes that you owe but for which you have not issued payment. This liability account provides an avenue to recognize the ...

When you look at a company’s financial statements, you see a snapshot of its performance – sales figures, profit margins, and a long list of assets and liabilities. But how do you know if a company is ...