Tell me the General entry for provision for bad debts?
- 19 Answers
- 26555 Views
- Capita, JMD Group, JPMorgan Chase, LR, State Street, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / dharma teja
Profit & Loss a/c Dr
To Bad Debts Provision
| Is This Answer Correct ? | 20 Yes | 1 No |
Answer / rabindra kumar mallick
Bad debt a/c Dr.
To Provision for bad Debt a/c
| Is This Answer Correct ? | 24 Yes | 10 No |
Answer / pg
P&L A/c Debit
To Provision for Bad Debt A/c Credit
(This is among the few entries that hit the P&L directly)
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / padma@mba hr
If you have a general provision you can set-off the bad debt
against that account.
If you have a specific provision, you have to see whether he
has been provided for. If thats the case you just debit that
a/c. If that debtor is not individually provided for, you
have to write it off against the P&L account.
Again, normally companies have to give the breakup of the
provisions accounts in their financials. They have to show,
1. What is the actual bad debt
2. What are the general or specific provisions made during
the year.
| Is This Answer Correct ? | 12 Yes | 6 No |
Answer / monit
P & L A/c Dr. XXX
TO PROVISION FOR BAD DEBTS A/c XXX .
| Is This Answer Correct ? | 8 Yes | 3 No |
when provision is made
p&l a/c---dr
To bad debt provision a/c
when loss on account of bad debt recovered from bad debt
provision
bad debt a/c dr
To bad debt provision a/c
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / afhjaehrjklehrk
dr bad debts
cr provision for bad dbets
| Is This Answer Correct ? | 4 Yes | 2 No |
Why we have to present first and second draft(Bill of Exchange) for bank negotiation.Why cant we present only One draft?
Information on Cost accounting vs. Management accounting
Expand GDP?
Whether the TIN and CST no. remain same for a firm in M.P. state. If a firm ask for CST but having only TIN no. is it correct to entertain his invoice?
how to calculate valuation of closing stock
What is the trade balance ,what is the Trailbalance,
if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?
explain about mergers & aquisitions? asked on 30/7/09
profarma of letter of credit
what is genpact? Tell us about genpact? what is GE? Tell us about GE? Describe your ideal company,location and job? why we should hire you? why do you want to join our company(GE)? What is capital bugeting? Explain the methods of capital bugeting in detail?
20 Answers Bank Of America, GE, Genpact, HCL, ICICI, Oxygen,
How many types of depreciation method do you know? name it.
13 Answers Delta Star, Ernst Young,
HOW TO EXPORT ANY LEDGER/VOUCHER IN TALLY IN EXCEL FORMAT. AND HOW CAN WE SEE THE SAME.
Audit 
