Empire Accounts Payable vs Long Term Debt Analysis

Accounts Payable vs Long Term Debt

Accounts Payable vs Long Term Debt Correlation Analysis

Accounts Payable

An accounting item on the balance sheet that represents Empire Petroleum obligation to pay off a short-term debt to its creditors. The accounts payable entry is usually reported under current liabilities. If accounts payable of Empire Petroleum Corp are not paid within the agreed terms, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation of additional credit from the supplier. Accounts payable may also be considered a source of cash, since they represent funds being borrowed from suppliers. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms. The amount a company owes to suppliers or vendors for products or services received but not yet paid for. It represents the company's short-term liabilities.

Long Term Debt

Long-term debt is a debt that Empire Petroleum Corp has held for over one year. Long-term debt appears on Empire Petroleum Corp balance sheet and also includes long-term leases. The most common forms of long term debt are bonds payable, long-term notes payable, mortgage payable, pension liabilities, and lease liabilities. In the corporate world, long-term debt is generally used to fund big-ticket items, such as machinery, buildings, and land. The total of long-term debt reported on Empire Petroleum Corp balance sheet is the sum of the balances of all categories of long-term debt. Debt that is not due within the current year and is often considered to be financing activities that are to be repaid over several years.

Empire Petroleum fundamental ratios Correlations

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Empire Petroleum fundamental ratios Accounts

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