Harish (CS Executive) (386 Points)
15 November 2009On 31.03.2009 all the Bills Payable in S Ltd.’s Balance Sheet were acceptances in favour of H Ltd. But on that
date, H Ltd. held only Rs.45 Lakhs of these acceptances in hand, the rest having been endorsed in favour of
its Creditors.
Rahul Ramesh
(CA Final, BCom, MBA)
(1084 Points)
Replied 15 November 2009
It means that payment will be made by S Ltd. to creditors of H Ltd for the amount of bills that has been endorsed by H Ltd. to its creditors.
Punit Tibrewal
(student )
(1684 Points)
Replied 15 November 2009
it means h. ltd's balance sheet only has 45 lakhs as bills receivable
Vivek Gaur
(CA Final)
(346 Points)
Replied 16 November 2009
i think it means that H endored BP to his debtors in favour of his creditors. Now creditors will pay the bills to S directly & H is out of chain.
Sushant
(article assisstant)
(23 Points)
Replied 16 November 2009
It means balance amount of B/R for H ltd. is in hand after deducing the amount of B/R with his Creditor amount of H.Ltd by endorcing that amount to in favour of its creditor.....
| Originally posted by :Rahul | ||
| " | It means that payment will be made by S Ltd. to creditors of H Ltd for the amount of bills that has been endorsed by H Ltd. to its creditors. | " |
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 16 November 2009
| Originally posted by :Rahul | ||
| " | It means that payment will be made by S Ltd. to creditors of H Ltd for the amount of bills that has been endorsed by H Ltd. to its creditors. | " |
True... S ltd has liablity of Rs. 45 lacs towards H ltd and for the rest of the amount It (S ltd) is liable to the creditors of H ltd...
CAclubindia
