In case of a debt becoming bad, the amount should be credited to

Related MCQs

• Provision for Doubtful Debt on 1st April, 2018 was `21,500. During the year 2018 – 19 the Bad-debt and Recovery of Bad-debt were ` 10,500 and ` 2,100 respectively. The Sundry Debtors on 31st March, 2019 were `2,25,000. Provision is to be made @ 5% on Debtors. If on 31st March, 2019, there was additional Bad-debt of ` 2,500 then Provision for doubtful-debt will be
• From the following details find out the amount to be debited to Profit and Loss A/c as fresh provision for doubtful debts during 2012-13 Debtors ` 30,000 as on 31.03.2013; Bad debt during the year ` 1,500; Provision for bad debts as on 01.04.2012 ` 2,000; Provision for doubtful debts to be kept at 5% of total debtors
• As on 31st March, 2017 debtors and additional bad debts are ` 8,00,000 and ` 10,000 respectively. If the provision for bad debts is made at 5% on debtors then amount of such provision will be
• The amount set aside to meet the loss of bad debt is
• If actual bad debts are more than the provision for bad debts, then there will be a
• Provision for bad and doubtful debts is created in anticipation of actual bad debts on the basis of:
• Which of the following is (are) characteristic(s) of Bad Debt?
• Provision for bad debt is made as per the
• Under the direct write-off method of recognizing a bad debt expense. Which of the following statements is/are true?
• At the time of preparation of financial accounts, bad debt recovered account will be transferred to