safayat ali


{ City } chittagong.
< Country > bangladesh
* Profession * student
User No # 83621
Total Questions Posted # 0
Total Answers Posted # 9

Total Answers Posted for My Questions # 0
Total Views for My Questions # 0

Users Marked my Answers as Correct # 20
Users Marked my Answers as Wrong # 10
Questions / { safayat ali }
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Answers / { safayat ali }

Question { Axis Risk Consulting, 28859 }

How do we treat Bad debts... how to create
provision/reserve for bad debts? show an example journal...
for creating provision and then writting off debtors


Answer

Bad debt is an operating expense. Creating reserve for bad debt:
For example: Total debtors $20000. Provide reserve for 7%.
Now creating reserve...
Bad debt account....... Dr. 1400
Reserve for bad debt account...... Cr. 1400
($20000*7%) This $1400 will be deducted from debtors & will
be shown on Profit & Loss account as an expense.
Now let us write off debtors for $500.
The journal will be:
Reserve for bad debt..... Dr. 500
Debtors account..... Cr. 500.
If the amount is recovered later then the entry will be:
Cash/Bank account..... Dr.
Reserve for bad debt account.... Cr.

Is This Answer Correct ?    14 Yes 2 No

Question { Convergys, 8212 }

what is the difference between gross profit and net profit?


Answer

Hi Im Safayat. Gross profit is calculated by subtracting the
cost of goods sold from net sales. (Net sales - Cost of
goods sold = Gross profit) And Net profit is calculated by:
{Gross profit - Operating expenses (General+Marketing)+ Non
operating income - Non operating expenses } = Net Profit.
Now u know the difference.

Is This Answer Correct ?    1 Yes 3 No


Question { Convergys, 8212 }

what is the difference between gross profit and net profit?


Answer

Hi Im Safayat. Gross profit is calculated by subtracting the
cost of goods sold from net sales. (Net sales - Cost of
goods sold = Gross profit) And Net profit is calculated by:
{Gross profit - Operating expenses (General+Marketing)+ Non
operating income - Non operating expenses } = Net Profit.
Now u know the difference.

Is This Answer Correct ?    2 Yes 2 No

Question { 4958 }

what is depriciation


Answer

Hi Im Safayat. In short depreciation is the allocation of
cost of a particular asset over the period of time.

Is This Answer Correct ?    0 Yes 1 No

Question { 4958 }

what is depriciation


Answer

Hi Im Safayat. In short depreciation is the allocation of
cost of a particular asset over the period of time.

Is This Answer Correct ?    0 Yes 1 No

Question { 4958 }

what is depriciation


Answer

Hi Im Safayat. In short depreciation is the allocation of
cost of a particular asset over the period of time.

Is This Answer Correct ?    0 Yes 1 No

Question { 3305 }

In sap ,company code is there.1 company has only one
company code or more than one? please brief


Answer

Hello Im Safayat... Once I had some training on SAP.
Actually 1 company has 1 code. But if the company has
different branches/departments then each of them will have
different codes.

Is This Answer Correct ?    1 Yes 0 No

Question { 3305 }

In sap ,company code is there.1 company has only one
company code or more than one? please brief


Answer

Hello Im Safayat... Once I had some training on SAP.
Actually 1 company has 1 code. But if the company has
different branches/departments then each of them will have
different codes.

Is This Answer Correct ?    1 Yes 0 No

Question { 3305 }

In sap ,company code is there.1 company has only one
company code or more than one? please brief


Answer

Hello Im Safayat... Once I had some training on SAP.
Actually 1 company has 1 code. But if the company has
different branches/departments then each of them will have
different codes.

Is This Answer Correct ?    1 Yes 0 No