On 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.
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what does it mean?????????
Replies (6)
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.
it means h. ltd's balance sheet only has 45 lakhs as bills receivable
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.
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. | " |
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...
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