whether baddebts can be charged for sundry creditors

Question Posted / n murhali

3 Answers
6418 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

whether baddebts can be charged for sundry creditors..

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

whether baddebts can be charged for sundry creditors..

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

whether baddebts can be charged for sundry creditors..

Answer / pinki

yes it can be charged

Is This Answer Correct ?

2 Yes

4 No

Post New Answer

More Accounting AllOther Interview Questions

when the creditors shows debit balance

4 Answers Genpact,

when one person does a BPO accounts than how it is differ from normal accounts

2 Answers Wipro,

EXPAND______________PTI

2 Answers

what tax will be on puchasing of sweets and is necessery to use form 38.

0 Answers

what is difference between matching principles and accrual basis principles?

1 Answers

What would be the entry at the time of Generating Tution Fee Challan for Advance fees. (e.g In the Month of April, Fees of June and July in being asked to pay by school to their students?

1 Answers

WHAT IS MIBOR? KINDLY EXPLAIN IN DETAILS?

5 Answers

can anyone provide me the Balance Sheet Items & Profit & Loss A/c Items & Accounting Heads with Accounting codes?

2 Answers

what is cost centre , job costing & Budget control. what is the effect of these.Explain its briefly.

0 Answers IVRCL,

in case dedit balance of solvent partner and in case credit balance of insolvent partner what i do for accounting on dissolution of partnershio firm give me ans. as per garrner v/s murry rule

0 Answers

What is the difference between TIN no. and CST no.?

4 Answers

What type of report and accounts should a company prepare?

4 Answers

For more Accounting AllOther Interview Questions Click Here