Interested to Buy Any Domain ? << Click Here >> for more details...
Explain Sundry Debtors and Sundry Creditors.
- 17 Answers
- 141736 Views
- SVE Drilling Tools, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sandhu
debtor is the receiver
creditor is the giver
eg; service
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / siddiqui
Sundry Debtors is the Account Receivable
Sundry Creditors is the Account Payable
| Is This Answer Correct ? | 3 Yes | 0 No |
Generally, the debtor is the receiver and creditor is the giver against the money which was being received or paid against sale of goods or services on credit in trade called trade debtor and trade creditor but irregular assets or liabilities which relate to debt come under sundry debtors and sundry creditors.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / smaranika sahoo
S.debtor:- who received goods/ services/ money etc. from us.
S.creditor :- from whom we received...
In other words
Debtor is the receiver & Creditor is the giver.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / chennai
Sundry creditors means if I am having a pen shop I purchase goods to other companies is called sundry creditors
Sundry debtors means I am sell a goods to my customer is called sundry debtors.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / subham
sandry debtors are taken money
sandry creditors are given money
just like fill the fuel patrol in our bike then bike is move know and riding hehehehahaha
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / aqeel raza
Sometimes, the firm may have to give advance to suppliers for goods or services, deposit as security, loan or advance to staff etc. which are received after meeting the purpose may also come under sundry debtors and recorded in general ledger or we can make subsidiary ledger of accounts having various persons or firms involved like loan to staff in large organization which is receivable bit by bit may be subsidized.
Hence, a person or firm is given money for something other than goods or services sold to them comes under sundry debtors.
In case of getting something relating to expense from a person or an organization on credit basis, the company accrues or creates its liability debiting expense account and crediting person or firm account in general ledger under sundry creditors. Sundry creditors do not belong to trade relating to purchase of merchandise for doing business.
Therefore, a person or firm supplies goods or services on credit basis relating to expense are also referred to sundry creditors or sundry payables.
The subsidiary ledger of sundry creditors may be made in case of huge volume of transactions under control account of Accrued Expenses in general ledger otherwise no need of creating subsidiary ledger.
| Is This Answer Correct ? | 3 Yes | 6 No |
What is Depreciation ?
what is prime cost &overhead cost
What Entery Should Made When Godown Rent Paid in Advance At The Time Of Agreement.Transation Is as Below * Rent Paid To XYZ (OWNER OF PROPERTY) For Running Month. * One Month Rent In Advance Tenent will Always pay rent amt 1st of every month. How can we do entry every month and How can party's a/c will due on ending every month. How can party a/c Show ADVANCE RENT. Please enter every entery including JV. With time when it is necessary.
I had this interview in 09. The interviewer kept on asking this question. Why do you want to join JP Morgan chase? can any1 give me a good answer...???
2 Answers IBM, JPMorgan Chase,
What is the journal entry for sundry debtors
why loss is posted on asset side in balance sheet?
i got a case study in which theie is a chemical company group which has 12 companies in all, few in Europe and few in USA, my question is should i have only 2 COA as per the standard like US GAAP and IFRS or should i have COA based on country location.
What is triple entry system.
What is tally and its features?
How we will dabit profit & Loss a/c in tally because profit & Loss a/c is tally generated a/c. we have to make provision for tax.
How do I pass entries towards advance paid to program ependiture. ex: Rs.20000 advance paid to Program officer. and he come back with program expenses venue Rs.1000, food expenses Rs.10000 and travel Rs.4000 and accommodation Rs.6000. Kindly give me the answer that how do I pass the entries and how should I adjust advance.
3 Answers Communication for Development and Learning,
what is fictitious asset
Audit 
