In other words, the balance sheet must balance ... The mortgage payable is that amount still due at the close of the fiscal year. Notes payable are the amounts still owed on any long-term debts ...

A company might issue a dividend to investors in the form of cash dividends or stock dividends. Each type of issue impacts ...

Accounts payable is not classified among expenses, which are found on the income statement. Instead, payables are booked as liabilities and are found on the balance sheet. AP includes these ...