Answer Posted / rahul jaiswal
In business transactions there are sometimes sundry debtors
not a paid amount and recover those debts we make provision
for bad debts i.e
Profit & loss A/c --- Dr
To Provision for bad debts A/c
Actually, those bad debts exenses are adjusted provision
for bad debts then entry in accounting voucher done:
Provision for bad debts A/c----- Dr
To bad debts A/c
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
Explain dual aspect term in accounting?
I'am accountant working in a trading concern. I wish to become an accountant in a manufacturing/construction company.are there any books available in the market from which I can get an Idea as to how accounts are prepared and maintained for a manufacturing/construction company.
Recall a time when you faced a dissatisfied and aggressive customer. How did you handle it?
Tell me by saying, perpetual or periodic inventory system; what do we mean?
Explain me bills receivable?
what are the basic elements to prepare a quarterly information system and how to calculate that items?
How to pass the entry in tally for demolished of building?
What is general ledger account?
Where should tds received should show in balance sheet?
what is ment by suspence account and dummy account
Explain me by saying, perpetual or periodic inventory system; what do we mean?
Define depreciation and its types?
swagat staryed business on 1st jan 2005 with cash on hand Rs. 10000
When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?
can any accountant forward format of daily or monthly mis format for accounts and finance dept!!
