What type of account is payable?
current liability account Accounts payable is a current liability account that keeps track of money that you owe to any third party. The third parties can...
Category: Updates
How do you write a good emcee script?
Prepare for an effective event opening. The emcee sets the tone for the event. Control the timing of the proceedings. Always introduce the speaker’s bio. ...
Is taxes payable a current liability?
Understanding Income Tax Payable Income tax payable is shown as a current liability because the debt will be resolved within the next year. However, any p...
Which mutual fund is best for 3 years?
India’s best performing mutual funds for Jul 2021 Name of Fund 1-Year Return 3-Year Return IDFC G-Sec Fund (G) 2.571% 11.108% SBI Magnum Gilt Fund (G) 3.2...
What are the advantages of using paper databases?
Advantages of Paper Database It is cheaper then a computer database. Easy Access to information. No computer skills needed. very portable. No viruses or i...
What are advantages and disadvantages of spreadsheet?
The Advantages & Disadvantages of Spreadsheets Advantage: Organizing Data. Disadvantage: User Bias. Advantage: Streamlines Calculations. Disadvantage:...
How do you record a promissory note in a journal entry?
The borrower records the note by debiting the cash account and crediting the notes payable account. The rest of the notes payable formula includes that in...
What are the advantages of management by objectives MBO?
Management by Objectives (MBO): Advantages and Limitations Improved Performance: Greater Sense of Identification: Maximum Utilization of Human Resources: ...
How do I work out VAT from gross amount?
To calculate VAT having the gross amount you should divide the gross amount by 1 + VAT percentage. (i.e if it is 20%, then you should divide by 1.20), the...
What can share premium be used for?
It is a statutory reserve which forms part of a company’s non-distributable reserves. Subject to the companies articles, the share premium account may be:...
