Provision for bad and double debts in companies final acc...
Provision for bad and double debts in companies final accounts is treated in?
Trading account
Profit and loss account
Fund flow statement
Cash flow statement
Correct answer is B
The Provision for Bad and Doubtful Debts will appear in the Balance Sheet. Next year, the actual amount of bad debts will be debited not to the Profit and Loss Account but to the Provision for Bad and Doubtful Debts Account which will then stand reduced.
The estimated profit or loss for a period is calculated by ...
The authorized share capital is ...
Share premium is an example of? ...
Expenses accured at the end of the accounting year is treated in the balance sheets as ...
An ordinary share of N80 was issued at N96. The share was issued at? ...
In the consignee's record account, the accounting treatment of expenses paid for on behalf of th...
Capital and drawings accounts are kept in the ...
Given: i. The memorandum of association of the company ii. The article of associ...