The payroll taxes withheld from employees are a current liability of the employer until the amounts are remitted to the governments. (The taxes withheld from employees are not an expense of the company that withheld them.) The payroll taxes that are not withheld from employees are expenses of...
Accounts payable are___. A.debts owed to suppliers B.related to purchases of goods on an open account C.current liabilities D.all of the above 查看答案需要1币 进入试题列表 Current liabilities may include the following items___. A.taxes payable B.dividends payable C.accounts payable D...
Sales Tax Payable is a liability account. When the sales taxes are remitted to the state, the merchant will debit Sales Tax Payable. Related Questions How do I calculate the amount of sales tax that is included in total receipts? What is net sales? Are the sales taxes part of a ...
There are many different types of liabilities including accounts payable, payroll taxes payable, and bank notes. Basically, any money owed to an entity other than a company owner is listed on thebalance sheetas a liability. Example For instance, assume a retailer collects sales tax for every sa...
Current liabilities are short-term debts that you plan to pay off within a year, such as credit card balances, payroll taxes, accounts payable, or expenses you haven’t been invoiced for yet. Non-current liabilities Non-current liabilities are long-term debts that your business must pay off ...
- 例句:Taxes payable include income tax and sales tax.- 翻译:应交税费包括所得税和销售税。16. 长期借款 Long-term Loans- 音标:/lɔːŋ tɜːrm loʊnz/- 释义:偿还期超过一年的借款。- 例句:The company has a long-term loan of $500,000 for equipment purchase...
Income tax expense = taxes payable + deferred tax liability – deferred tax assetThe income tax expense represents the sum of your business tax obligations, which is then disclosed on the income statement. In contrast, the tax payable denotes the actual tax obligation based on the regulations of...
of current liabilities are accrued expenses, taxes payable, short-term debt, payroll liabilities, and dividend payables, among others. Current liabilities are listed on the balance sheet under the liabilities section and are paid out of the revenue generated by the operating activities of a company...
Liabilitiesare found on the right side or lower half of a balance sheet. A common small business liability is accounts payable, or money owed to suppliers. There are 2 types of liabilities: current liabilities and long-term liabilities.
Liability accounts include interest owed on loans fromcreditors—known as interest payable, as well as any tax obligations accumulated by a company, which are known as taxes payable. These are not part of accounts payable. Debt owed to creditors typically must be paid within a short time frame...