Provision for bad and doubtful debts, Cost Accounting

Assignment Help:

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.


Related Discussions:- Provision for bad and doubtful debts

Determine the costs of goods, Savage Distribution markets CDs of performing...

Savage Distribution markets CDs of performing artist Little Sister.  At the beginning of October, Savage had in beginning inventory 1,200 Little Sister's CDs with a unit cost of $5

Trypanosoma, Place a prepared slide of Trypunosoma under tlic microscope an...

Place a prepared slide of Trypunosoma under tlic microscope and focus it under low power, You will observe large number of tiny spindle-shaped trypanosomes lying in the plasma alll

What is callable preferred stock, What is callable preferred stock? Why do ...

What is callable preferred stock? Why do corporations issue such stock? Given the different features that are associated with stock (callable, cumulative, preferred, etc.), what ty

Methods for resolving transfer pricing conflicts, what are the advantages a...

what are the advantages and disadvantages of marginal costs plus a fixed lump-sum fee?

Cost sheets, Describe the information about cost sheets? Ans) Cost sheet...

Describe the information about cost sheets? Ans) Cost sheet having of the direct and indirect expenses acquired in producing a given product and classifying the expenses acquire

Techiniques ofinventory control, hml analysis , sde analysis,sos analysis, ...

hml analysis , sde analysis,sos analysis, golf analysis , xyz analysis

Master budget, What are the four elements of the budgeting cycle?

What are the four elements of the budgeting cycle?

Change in useful life for deperciation, A machine originally had an estimat...

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

Over And Under Absorption of Production Overhead Costs, Over And Under Abso...

Over And Under Absorption of Production Overhead Costs This may be analyzed beneath a) Activity This is level of the business or cost center. Expenditure on several item

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd