Creditors

[lbuntha]

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.

 

[Fumita]

It means the liabilities in your balance sheet will consist of:

Overdraft 1 MUSD
Trade Payables 900 KUSD
Other Payables 60 KUSD