Talk:Accrual

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Accrued expenses are short-term liabilities?

Would it be accurate to say that accrued expenses are short-term liabilities? This site says, "Accrued expenses are expenses incurred but not paid yet. Interest free source of finance. The accrued expenses account is a short-term liability" but I notice that isn't mentioned in the article. Thanks. AccountsPayable (talk) 18:48, 23 July 2015 (UTC)[reply]

Accrued expenses become accounts payable?

Suppose a company expects a $500 invoice for supplies. Would the entry be entered like this:

Supplies ..... $500
 Accrued expenses ....      $500

Then when the invoice is received:

Accrued expenses ..... $500
 Accounts payable ....      $500

Then when the invoice is paid:

Accounts payable ..... $500
 Cash ................      $500

AccountsPayable (talk) 18:58, 23 July 2015 (UTC)[reply]

Accrued revenues become accounts receivable?

Suppose a company expects to send out a $500 invoice. Would the entry be entered like this:

Accrued revenue ....... $500
 Revenue ..............      $500

Then when the invoice is sent out:

Accounts receivable ... $500
 Accrued revenue ......      $500

Then when payment for the invoice is received:

Cash .................. $500
 Accounts receivable ..      $500

AccountsPayable (talk) 20:08, 23 July 2015 (UTC)[reply]

Is Goodwill an accrual?

Is goodwill an accrual as it says? 2A02:8084:31E:F380:94FC:B674:B400:2C50 (talk) 22:51, 10 April 2022 (UTC)[reply]