Accounts Payable Journal Entries refers to the amount payable accounting entries to the creditors of the company for the purchase of goods or services and are reported under the head current liabilities on the balance sheet and this account debited whenever any payment is been made. D. Income statement. A. Under which of the following categories would Accounts Receivable appear? C. Statement of cash flows. Statement of owner's equity. Accounts payable is a liability since it's money owed to creditors and is listed under current liabilities on the balance sheet. Accounts payable are usually divided into two categories – trade accounts payable and other accounts payable. 0 votes. A) long-term assets B) current assets C) long-term liabilities D) current liabilities 22) Which of the following is a plant asset? LO 3.5Prepare journal entries to record the following transactions. asked Sep 22, 2015 in Business by Face_Off. If your business uses multiple A/P accounts, QuickBooks will let you choose the account you want to use when you enter and pay bills. Accounts Payable (A/P) Record of the outstanding bills of the business. These types of payables are commonly labeled “Accounts Payable” or can be listed as individual and specific payable accounts. Assets (Cash, Accounts Receivable, Land, Equipment) Liabilities (Loans Payable, Accounts Payable, Bonds Payable) Stockholders' equity (Common Stock, Retained Earnings) The Equity accounts are different based on the type of company. Assume an Accounts Payable beginning balance of $7,500. Short-term payables are to be paid within one year of the date they were created and appear under the heading “Current Liabilities” on the balance sheet according to generally accepted accounting practices. 1.Accounts payable appear on which of the following statements? A) equipment B) patents C) trademark D) Accounts Receivable 23) Notes Payable due within two years are classified as _____. Balance sheet. The general ledger is often arranged according to the following seven classifications. 11) Under which of the following categories would Accounts Payable appear? 13) Under which of the following categories would bonds held as an investment for less than a year appear? Mortgage Payable (for example mortgage on business property) Notes Payable (business financial obligations from signing a promissory note). 2. accounting-and-taxation; 0 Answers. E. Transaction statement. (A few examples of the related account titles are shown in parentheses.) May 12, … Equity: Equity accounts represent the value of the owner’s investment in the company. A) Long-term assets B) Current assets C) Long-term liabilities D) Current liabilities. Accounts payable usually appear as the first item in the current liabilities section of a company’s balance sheet. 21) Under which of the following categories would Accounts Payable appear? 11) A) Long-term liabilities B) Current assets C) Long-term assets D) Current liabilities 12) Which of the following … B. Create a T-account for Accounts Payable, post any entries that affect the account, and calculate the ending balance for the account. Create a bill for the first time. Current liabilities Long - term assets Long - term liabilities Current assets Under which of the following categories would Accounts Payable appear? A) Long-term assets B) Current assets C) Long-term liabilities D) Current liabilities 14) Under which of the following categories would Accounts Payable appear? Accounts Receivable (A/R) … Current assets C ) under which of the following categories would accounts payable appear? liabilities D ) current liabilities on the type of company listed as and. 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