what is the difference between provision for bad debts and
reserve for bad debts?
- 9 Answers
- 35071 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / auspice a budu
provisions are amounts set aside for a specific purpose, eg.
provision for depreciation or bad debt whiles reserves are
amount set aside but not for a specific purpose.
| Is This Answer Correct ? | 1 Yes | 2 No |
Post New Answer View All Answers
What goals do you have in your career
An applicant paid excess amount to the Government Office through a demand draft for a particular permission/license instead of actual fees. Later he went to government office and requested to return the previously submitted demand draft. Can he get back the Previously submitted demand draft(which was not adjusted into government account) duly paying he actual fee?
What is compensation theorem?
what is tds rate of WCT applay for sale tax ragistard company.
what is Contra Asset?
How now about sales tax and purchase tax.what is the persentage of those thing in tamil nadu.
how to solved the shares qusionas ?
if you fix salary to some body for Rs.10000/- what are the segregations to be done and what are the deductions to be done (segregations like basic, da,ta,conveyance etc., how ? what percentage what speaks law) and deductions what are those like, pf,esi,pt, etc., what ever
What are the question asked for accounts associate
Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
send me accounting test ppaers
What are different types of reports made in tally
What is the basic difference between pledge, hypothication and mortgage????
how standard costing techniques are applied in manufacturing sectors
