what is journal entry of reserve for doutful debts.
- 3 Answers
- 6187 Views
- I also Faced
- E-Mail Answers
Answer Posted / v sakkthivel
Reserve for bad debts
When sundry debitors fail to return for sum of amount ,
the company reserve some precentage of sum on surdry
debitors to waive off to avoid impending loss to the
compay .
Example: Sundry debitors Rs 2000
Bad and doubtful debts 200
Reserve for bad debts 15%
In assests side Sundry debitors 2000
Less reser for bad debts-300
bad debts 200 reserve is 300 exces 100
will be profit side of profit and loss account.( credit
side)
If bad debts exceeds the reseve will in profit and loss
account debit side
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
what do you mean byrecoupment of shortworkings in royalty accounts
Tell me about a situation where you showed determination?
In india i did MA BE.d but now i am applying for student visa in australia in masters of professional accounting will i face any problem in interview call that why u change ur course how i ill support my answer
Is transfer Profit / loss account to capital account important in Tally ERP 9 at the end of the financial year? And what is the benefit of transferring P/L account to Capital account ? Please I want someone to answer my question, this is my second question I posted one question 2 days ago also nobody reply to that question. Thank you.
What are time sheets? How are they maintained?
When we paid TDS on commission how will journal entry come
how to pass this entry in tally? Dear Sir, I have just started learning tally . I am practicing tally. and I am following 11th Std book for practicing. Please help me with the following entry. I know dr and cr part but having problem in grouping. Please Help. Introduced goods of Rs 10,000, cash Rs 15,000, furniture Rs 5000, debtors of Rs 1000 and commenced business. What will be the entry and group for each ledger. Please Help.
kindly send the TDS tariff on Security expenses, rents, transport charges etc.,
How do you maintain accounting accuracy?
what is t code of gr/ir report?
Explain what does financial statement of the company includes?
what are doucement required under registration of properity firm. give the answer breif
How to pass workscontract sale invoice which includes WCT & VAT.
Have you ever made mis reports and what are they?
a cc. has balance Rs. 8,40,000 at the credit of profit and loss a/c this balance is used for redemption of debentures what will be the entry
