What type of account is salaries payable?

Understand the Problem

The question is asking about the classification of the 'salaries payable' account in accounting terms. Specifically, it seeks to understand whether it is a liability or an asset, and its role in financial statements.

More Information

Salaries payable are typically categorized under current liabilities since they are usually settled within a short period.

Sources

• Salaries payable is a liability account in accounting - accountingtools.com
• What Is Salaries Payable? Definitions and Examples | Indeed.com - indeed.com
• Salaries Payable - Accounting Superpowers - accountingsuperpowers.com