whether baddebts can be charged for sundry creditors
- 3 Answers
- 5003 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Sundry Debtors & Sundry Creditors are two different groups
in Accounts & the former represents assets & the latter
liabilities. Bad debts should be charged of the Profit &
Loss A/c of the relevant period and can not be adjusted
against sundry creditors.
However if the debtor from whom money is receivable fails to
pay and it becomes bad debt ; Same debtor has supplied some
goods or provided services and the company owes him the
money, then the bad debt can be set-off against the money
payable to the same party under Sundry Debtors towards the
goods or services received.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / neeraj
No it cannot be Charged because it will increase the income
and the same amount will be Party's debtors
| Is This Answer Correct ? | 0 Yes | 1 No |
Expand A D T A
What is the treatment for PRELIMINARY EXPENSES?
27 Answers Capital IQ, Franklin Templeton,
Expand W C T
What is the rate of basic excise duty and specific duty And I want to know that how can I see that vat rate in up ,excise duty and tds details Please tell me site plese
wHAT ARE EVENTS
What is the working formula for Debt Equity ratio
Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at Rs.1000 each. He used one chair for his personal use.
When is proposed divided a current Liability and when is it non-current liability? Why is it in the list of Current Capital Accounts?
What is meant by marginal cost?
two sales synonyms
what is accounting standard?
Expand R A C
Audit 
