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Sundry creditors

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costargh:
For sundry creditors, if the firm had more than one, I would be correct in saying that
a) each sundry creditor would require a separate ledger, and
b) each sundry creditor would be reported separately in the balance sheet

correct?

Damo17:

--- Quote from: costargh on October 15, 2008, 11:32:28 am ---For sundry creditors, if the firm had more than one, I would be correct in saying that
a) each sundry creditor would require a separate ledger, and
b) each sundry creditor would be reported separately in the balance sheet

correct?

--- End quote ---

I think not. But have a look at the link at make of it what you will.
http://www.businessdictionary.com/definition/sundry-creditors.html

Noblesse:
Ohh good question, I'm not sure. However VCAA would have to be really mean to make us do two :(

costargh:
My thought on it is that each sundry creditor would be reported separately because it's not like a subsidiary ledger for creditors.
Subsidiary ledgers have the characteristic of having the date of each transaction recorded in the ledger, the sundry creditor (eg for Max Marts) does not.

AppleXY:
 For the purpose of understandability and just practicality  in the balance sheet, Sundry creditors will be put in a summary.

For the ledgers, each sundry creditor has its own ledger.

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