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What is bad debt ? how does it effects on Balance sheet and
profit and loss account?
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Answer Posted / dj
Debts which cannot be recovered or become irrecoverable are
called Bad Debts. It is a loss for the business.For
example,if Sundry debtors on 31st March, 2007 are 55,200,
bad debts on that date are Rs.200,Entry passed is:
Bad Debts a/c Dr. 200 -
To Sundry Debtors a/c - 200
The two-fold effect of bad debts will be that bad debts will be:
(1) Shown on the debit side of Profit & Loss Account, and
(2) Shown on the asset side of the Balance Sheet by way of
deduction from Sundry Debtors.
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Country-Western songs emphasize three basic themes: love, prison and trucks. A survey or the local Country-Western radio station produced the following data: 12 songs about a truck driver who is in love while in prison 2 about people in prison who are not in love and do not drive trucks 8 about people who are out of prison, are not in love, and do not drive a truck 13 about a prisoner in love 28 about a person in love 18 about a truck driver in love 16 about truck drivers who are not in prison 3 about a truck driver in prison who is not in love Find the number of songs about: a) How many songs were surveyed? b) truck drivers? c) prisoners? d) truck drivers in prison? e) people not in prison? f) people not in love?
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