Creditors

Discussion in 'General Accountancy Discussion' started by lbuntha, Feb 23, 2012.

  1. lbuntha

    lbuntha

    Joined:
    Feb 11, 2012
    Messages:
    7
    Hello everyone,

    Could you please explain what does it mean?

    At the end of Year 10, we expect the company’s liabilities, which will all be payable before 31 March Year 11, will consists of bank overdraft of $1,000,000 creditors for goods purchased $900,000 and other creditors (including Dividends declared) $60,000.

    Thank for your support.
     
    lbuntha, Feb 23, 2012
    #1
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  2. lbuntha

    Fumita

    Joined:
    Feb 28, 2012
    Messages:
    12
    It means the liabilities in your balance sheet will consist of:

    Overdraft 1 MUSD
    Trade Payables 900 KUSD
    Other Payables 60 KUSD
     
    Fumita, Feb 28, 2012
    #2
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