Answer: Accrual account payable
Explanation:
An account payable is a current liability whereby a company receives and utilises a good or service first and makes payment for it at a later stage. This type of transaction is made on credit.
An accrued expense is a type of current liability where the expense is recordedas a liability in the books of the company before payment has been made.
Diaz Company will record this bill as an accounts payable (accrued expense) until they physically make the payment, then it will become an expense.
The answer is No, because his lowest balance so far this month has been $1996.18
Answer:
Assets : Cash, Accounts receivable, Equipment
Liabilities : Salaries and wages payable, Accounts payable, Notes payable
Owners Equity : Owner’s capital
Explanation:
Assets are valuable things owned by a business, to which firm's present or future monetary economic benefit can be entitled.
Cash , Account receivables (from debtors who owe money to us) , Equipments are all beneficial ownerships and hence are Assets.
Liabilities are financial burden of the business, the amount business owes to others.
Salaries and wages payable, Accounts payable (from creditors to whom we owe money), Notes payable are all financial obligations to be fulfilled by business - so are liabilities of business.
Owners Equity are the assets of business which have been bought in by the Entrepreneur as 'Capital' in the firm.
Prime costs and period costs