Accounts payable are usually divided into two categories – trade accounts payable and other accounts payable. Statement of owner's equity. Create a T-account for Accounts Payable, post any entries that affect the account, and calculate the ending balance for the account. The Equity accounts are different based on the type of company. The general ledger is often arranged according to the following seven classifications. (A few examples of the related account titles are shown in parentheses.) C. Statement of cash flows. Assume an Accounts Payable beginning balance of $7,500. E. Transaction statement. A) long-term assets B) current assets C) long-term liabilities D) current liabilities 22) Which of the following is a plant asset? B. Equity: Equity accounts represent the value of the owner’s investment in the company. Accounts payable usually appear as the first item in the current liabilities section of a company’s balance sheet. A. 0 votes. 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. Current liabilities Long - term assets Long - term liabilities Current assets Accounts payable is a liability since it's money owed to creditors and is listed under current liabilities on the balance sheet. LO 3.5Prepare journal entries to record the following transactions. 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. These types of payables are commonly labeled “Accounts Payable” or can be listed as individual and specific payable accounts. 1.Accounts payable appear on which of the following statements? D. Income statement. 2. Under which of the following categories would Accounts Receivable appear? Balance sheet. 11) Under which of the following categories would Accounts Payable appear? accounting-and-taxation; 0 Answers. 13) Under which of the following categories would bonds held as an investment for less than a year appear? 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. asked Sep 22, 2015 in Business by Face_Off. 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 Payable (A/P) Record of the outstanding bills of the business. 21) Under which of the following categories would Accounts Payable appear? Accounts Receivable (A/R) … A) Long-term assets B) Current assets C) Long-term liabilities D) Current liabilities. 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