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what do you mean Provision for bad debit
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Answer / rahul
Provision for bad debts is like a reserve created for any
specific purpose i.e.,Bad debt.It shows himself as expenses but
its a fund created to adjust the bad debts.when the
Provision is created then the entry is
Profit & Loss A/c - - - - - Dr.
To Provision for Bad Debts.
And when bad Debt is actually happen then it is adjusted
with the Provision for Bad Debt Accounts & the entry is
Provision for Bad Debts - - - - - - Dr.
To bad debt A/c
| Is This Answer Correct ? | 27 Yes | 7 No |
Answer / guest
In business transactions there are chances that some debts would be
doubtfull so to recover those debts we make provisions called provision
for bad debts
| Is This Answer Correct ? | 11 Yes | 2 No |
Answer / rahul jaiswal
In business transactions there are sometimes sundry debtors
not a paid amount and recover those debts we make provision
for bad debts i.e
Profit & loss A/c --- Dr
To Provision for bad debts A/c
Actually, those bad debts exenses are adjusted provision
for bad debts then entry in accounting voucher done:
Provision for bad debts A/c----- Dr
To bad debts A/c
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / guest
In business transactions there are chances that some debts would be
doubtfull so to recover those debts we make provisions called provision
for bad debts
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / rahulkumar
it is an attempt to prevent the losses due to bad debts and
the certain amount is taken from the current years profit
to meet the losses
entry
profit & loss a/c ............ dr
to provision for bad debts a/c
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / shobh nath ram
PROVISION FOR BADEBT IS A CHARGE AGAINST PROFIT WHICH IS CREATED OUT OF PROFIT.SUCH TYPE OF PROVISION IS CREATED TO MITIGATE THE CONTINGENT LOSS.PROVISION IS ONLY CREATED IF ITS PROVIDE THE FURTHER EVIDENCE OF CONDITIONS.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sohail_ali53
bad debts is nothing but it is reserve created for uncertain insolvency of debtor and adjusted to sundry debtor
| Is This Answer Correct ? | 5 Yes | 6 No |
Answer / c.lokesh
when you given some to customer or vendor its is not
recover that money that is called rever for bad debts
| Is This Answer Correct ? | 0 Yes | 1 No |
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