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.

Rs. 23.50 ( Rupes twenty three & paise fifty only) what is euro Conversion?

2138

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Expand---------BPCD

2040

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how many schedules are there in accounting?

2228

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Hi Im Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Clerical post. Please help me I f u can. thanx in advance

2012

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what is Calculation of Gross Profit Or Gross Loss?

2238

---

Distinguish capital and Revenue receipts

2259

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Expand---------MRDT

2328

---

my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.

1937

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Short Answer on ___________Appreciation

1978

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i am the student of icwai (intermidiate) What is the tds and how use the different state ..

2122

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Hi Iam Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Officer's post. Please help me I f u can. thanx in advance

2034

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Expand ----------GIDB

2117

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Which document should be attached with purchse & sales invoice?

1923

---

Define Payee

2127

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Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry

2002

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