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Creditors in a balance sheet, are the companies, people etc... that you owe money to. They could be utilites, materials purchased, or anything that you have not yet paid for, but have received. This is the opposite of Debtors - people that owe you money.
Wiki User
∙ 14y ago
Wiki User
∙ 11y agoDebtors are liability against services are goods purchased.
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Why creditors would be interested in the balance sheet of a business?
Creditors are interested in balance sheet to check that how much money company has already taken as a loan from other creditors and how much assets are pledged and will company be able to return credit or not.
What If the accounts payable account balance has increased on the trial balance sheet?
If the balance of accounts payable has increased on the final balance sheet, it means that the company has more creditors to pay and might be struggling with its finances.
Which financial statement or statements would be of most interest to creditors?
Balance Sheet!!maybe some kind of balance that have deposite.and it current only...
How to treat Creditor in a balance sheet?
Creditors are the people which gives products on credit to business for payment in future, as it is liability of business so it is shown under current liability at liability side of balance sheet .
Where does wages due go in a balance sheet in business studies?
Wages due (also known as "Creditors for Wages"), is listed in the Balance Sheet under "Trade and other payables" which falls under Current Liabilities. Current Liabilities again is a sub section of the Liabilities section of the Balance Sheet.
What does it mean if you see an increase in trade creditors from the previous year on the balance sheet?
More use of cash for teh business.
What is the Difference between account payable and sundry creditors?
Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance sheet.
In what profession may someone use a balance sheet?
A person in the profession of business finance will use a balance sheet. This area may include investment bankers, realtors, creditors, and other accounting positions within the world of business finance.
Is Loan on balance sheet or off balance sheet?
Loan is on balance sheet
Difference between on balance sheet financing and off balance sheet financing?
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
Where do creditors go on a profit and loss account?
Creditors do not typically appear on a profit and loss account. A profit and loss account only includes revenue, expenses, and net profit or loss. Creditors are typically listed on a company's balance sheet under current liabilities, which reflects the amount owed to them at a specific point in time.
Can creditors account have debit balance?
creditors have debit balances as advances receive from creditors..........
