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What is the meaning of the sendry creditors for capital good

Shubh (Account Assistant) (24 Points)

16 February 2012

What is the meaning of sundry creditors for trading goods & sundry creditors for others

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Deepak Gupta (CA Student) (15922 Points)
Replied 16 February 2012

Originally posted by : Rosohni
	What is the meaning of sundry creditors for trading goods & sundry creditors for others

Sundry creditors for goods and services is the amount that a company owes to vendors for products and services purchased by it on credit. This is a current liability as the expectation is that the due payments would be made by the company in less than a year. We distinguish sundry creditors for goods and services from those for capital goods.

Sundry Creditos for Others (like for expenses, loans, capital goods)

Eg: Expenses yet to be paid like outstanding salaries, wages, rent etc. For loans like, bank loan, bank overdraft. For Capital Goods like fixed assets.