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Subjects>Business>Accounting

Is accounts payable same as expenses?

Anonymous

∙ 12y ago

Updated: 9/22/2023

No

Wiki User

∙ 12y ago

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Continue Learning about Accounting

What is a accounts payable jopurnal?

By Accouts payable Dr To Expenses A/c Cr

What account do you credit when you debit operating expenses?

DR Operational Expenses CR Accounts Payable

Journal entry for received an invoice for truck expenses?

Debit trick exp and credit accounts payable

Is purchases and accounts payable the same?

If purchases are made on credit then accounts payable are created on the other hand if purchases are made on cash then there is no accounts payable created so both of these are not same but interrelated.

Where does accounts payable go on a multiple step income statement?

By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.

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Related Questions

What is a accounts payable jopurnal?

By Accouts payable Dr To Expenses A/c Cr

Accounting entry of accounts payable?

expenses debit to party

What account do you credit when you debit operating expenses?

DR Operational Expenses CR Accounts Payable

What account do you debit when you credit operating expenses?

DR Operational Expenses CR Accounts Payable

Journal entry for received an invoice for truck expenses?

Debit trick exp and credit accounts payable

Is purchases and accounts payable the same?

If purchases are made on credit then accounts payable are created on the other hand if purchases are made on cash then there is no accounts payable created so both of these are not same but interrelated.

What is working investment?

Accounts receivables (net) + Inventory - Account payable - Accrued expenses

Where does accounts payable go on a multiple step income statement?

By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.

Is accounts payable and debt the same thing?

no

Accounts Payable related all information how to do the accounts payable?

Basically there are various methods of accounts payables and differ from company to company. most of the petty cash expenses are paid in cash and other payament is made through cheques.

If accounts payable have increased during a period will the expenses on an accural basis be less than expenses on a cash basis?

expenses on an accrual basis are greater than expenses on a cash basis

Are creditors accounts payable or accounts receivable?

Accounts Payable

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