How to treat the provision for bad debts which appear on
credit side of the p&L A/c.
Answer Posted / amjad faqih
Hello every one,
I do agree with Mr. Surya kumar but want to add little more
in answer once you received your money after 2-3-4 years
then what would be the entry as following.
cash/bank ----- Dr XXXX
To provision for bad deb (P&L) ----Cr XXXX
Is This Answer Correct ? | 0 Yes | 3 No |
Post New Answer View All Answers
describe how accuracy in trial balance is a prime objective for preparing the financial statements?
who is the pramotar?
what is the document spliting?
it is better to invest in which securities short term/long term or both? please reason4 the same
I am maintaing books of accounts a Software Co. Kindly advise me Account Head of these exps. (Software Exps.,Internet Exps., Video Exps.,Server Maint.Exps.,& SMS Exps.,) Thanks
What are write off entries to be passed say if im having payable of Rs. 400 standing in the balance sheet and I want to write it off...
we can add the no. of increase in shares due to exercise of options,convertible debentures,warrants etc.Why diluted eps is calculated separately?
Truck # 3 has a list price of 16000. It is acquired in exchange for a computer system that company A caries in its inventory. The computer system cost 12000 and is normally sold by company A for 15200. Pass the journal for the same.
DESCIBE EXPORT PROCEDURE
Purchase book is a ----------journal
Which document should be attached with purchse & sales invoice?
what is portfolio Saint?
fridge was capital or revenue?
Dear Sir/Madam, Executive Trainee...Finance I had been called for NTPC Group discussion and GD please guide me for getting success in GD and interview...
Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,