Answer / kamlesh kumar singh

In most of the organisation , it is certain that the whole
amount of debtors will not realise in future.And for this,
at the end of the year Provision for doubtful debt is
created and after that those amount which are not realised
from debtors after discussion from debtor written off by
reducing the provision.
Journal Entries:
1)Profit and loss a/c --Dr
To,Provision for doubtful debt a/c

2)Provision for bad debta/c--Dr
To,Bad Debta/c

Answer / rakesh sharma

At the time of provision:
Bad Debts A/c ....................Dr
To Provision for Bad Debts Cr

At the time of bad debts:
Provision for Bad Debts ..........Dr
To Debtors (A Ltd) Cr

Answer / tushar

THE AMOUNT WHICH IS IRRECOVERABLE FROM CUSTOMER.

ENTRY IS
BAD DEBTS A/C DR.
TO CUSTOMER A/C.

Answer / krrish

bad debts a/c Dr
To sundry creditors a/c

can any body tell me the procedure to learn accountancy with easy tips.i.e., layman accounting policy and rules of debit and credit.

0 Answers  

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My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?

0 Answers  

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Can you name any other accounting application?

0 Answers  

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In the absence of any provision in the partnership agreement, profits and losses are shared (a) In the ratio of capitals. (b) Equally. (c) In the ratio of loans given by them to the partnership firm. (d) None of the above.

0 Answers   Tech Mahindra,

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can anyone help in service tax part if we give a service on credit basis (Credit invoice) how should we pay service tax on invoice basis or reciept basis

1 Answers  

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why profit is a liability and loss is an asset?

5 Answers  

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net worth is: 1)total assets less outside liabilities 2)total liabilities plus owner equity 3) current assets less current liabilities 4) total accumulated profit less liabilities choose correct and with deatail.

3 Answers  

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1)What is E-1 Sales (Sales in Transit) Full Guidence From Issue to receipient. 2) What is F Form How Are procedure

0 Answers  

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WHAT IS ENTRY FOR CREDIT SALES?

9 Answers  

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what is the difference between derivatives and swaps

9 Answers   Capital IQ, FactSet Systems,

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what is sundry debtors and creditors?

3 Answers  

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which date is effected in books related bank recancilation transaction date or value date?

1 Answers   JK Associates,

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