Interested to Buy Any Domain ? << Click Here >> for more details...
what is journal entry of reserve for doutful debts.
- 3 Answers
- 7832 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / arjun kumar
debit the company reserves a/c
credit the reserve for doubtfil debts A/c
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / genius
Reserve for doubtful debts or Bad debts
Profit & loss A/c.......Dr.
To Provision for bad debts or doubtful debts A/c
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / v sakkthivel
Reserve for bad debts
When sundry debitors fail to return for sum of amount ,
the company reserve some precentage of sum on surdry
debitors to waive off to avoid impending loss to the
compay .
Example: Sundry debitors Rs 2000
Bad and doubtful debts 200
Reserve for bad debts 15%
In assests side Sundry debitors 2000
Less reser for bad debts-300
bad debts 200 reserve is 300 exces 100
will be profit side of profit and loss account.( credit
side)
If bad debts exceeds the reseve will in profit and loss
account debit side
| Is This Answer Correct ? | 1 Yes | 0 No |
Knowing what you know now, walk me through what you would do differently to drive even more success?
what is the entry to be made for vat when any purchase is made in that bill vat amount is included ?
What is accounting normalization?
why the closing stock arises in the trading account of final accounts
how to hand ell c.c. limit for comaney but sales is low
How many invoices on average do you handle on a weekly/monthly basis?
What entry to be passed for Duty draw back as receivable
what is golden accounting rules
what are the entry for payment of city bank credit card through hdfc bank in tally 7.2 ?
what is mean by account
i take a loan of 500000 rs. From ICICI bank, after 6 months i paid all from SBI bank. How can i make jv entry?
how to pass return cheque entry in tally erp 9
1 Answers College School Exams Tests,
Audit 
