When it comes to building out a balance sheet, an organization’s accounts payable come into play. As you work through a balance sheet, you’ll need to determine whether accounts payable are an asset or ...

Tax Payable is a liability account that represents the payroll, sales and other taxes that you owe but for which you have not issued payment. This liability account provides an avenue to recognize the ...

When you review your small business's balance sheet, it's important to compare accounts across multiple years to identify any trends. To make this process easier, you can convert each account's dollar ...