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A provision must be made in advance for those debts whose recovery is uncertain and to writing off bad debts. Each enterprise, depends on their past experience, make a provision for doubtful debts to meet that a loss while it happens. It is done for the reason of reflecting the debtors in the balance sheet at their true value. Provisions for doubtful and bad debts appear on the debit side of the profit and loss account and at the credit side of the provision for bad debts account.
Q. Explain Break-even revenue? Sales revenue earned would give no profit and no loss. It can be computed by multiplying break-even volume (above) by products selling price, or
These are losses on account of uncollectable debts. While the amount due from debtors is irrecoverable, it is termed as bad debts. Bad debts, being loss are closed through transfer
using relevant examples discuss the meaning and scope of cost accounting
sir i want to know the whole procress of costing
Prepare the Material Cost Budget of products of a Company For a company along with many products, a periodic budget would be developed given as: Assume a firm has 3 products X
material ledger card.following transactions affecting material No115-8 occurred during march 1992. march 1 balanced on hand 500 [email protected] per gallon maech 2 received 1200 gall
A machine originally had an estimated useful life of 5 years, but after 3 complete years, it was decided that the original estimate of useful life should have been 10 years. At tha
Jp Rhodes started a bowling club called " bowl them over". The following transactions took place 4 March 2012. 1. Bowling LTD transferred R20 000 bank account of the club as an in
The profit volume ratio of xltd. is 50% and the margin of safety is 40%.you are required to calculate the net profit if sales volume is rs.100,000?
traditional budgeting systems are incremental in nature and tend to focus on cost centres..explain the weakness of the incremental budgeting system and explain ways of adressing th
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