05-07-2005, 12:23 PM
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Q.3.
Ans.
Prov. for Doubtful Debts(previous period) = 3400/-
Prov. for Doubtful Debts required(this peroid) = 4000/-
Bad Debt Exp. = 2000 + (4000-3400)
Bad Debt Exp. = 2600/-
General Journal Entries_
..........................................................
............DESCRIPTION................DEBIT..CREDIT......
1. Bad Debt Expense......................600..............
.................Provision for B/Debts.........600........
..........................................................
2. Profit and Loss A/c...................2600.............
.................B/Debt Expense................2600.......
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I am a student of Mod B and i have tried my best to answer this question. If any senior happens to pass by, plz care to answer the other question (Q.1 and Q.2) and point out any mistakes made by me.
Ice Blue
Q.3.
Ans.
Prov. for Doubtful Debts(previous period) = 3400/-
Prov. for Doubtful Debts required(this peroid) = 4000/-
Bad Debt Exp. = 2000 + (4000-3400)
Bad Debt Exp. = 2600/-
General Journal Entries_
..........................................................
............DESCRIPTION................DEBIT..CREDIT......
1. Bad Debt Expense......................600..............
.................Provision for B/Debts.........600........
..........................................................
2. Profit and Loss A/c...................2600.............
.................B/Debt Expense................2600.......
..........................................................</font id="Lucida Console">
I am a student of Mod B and i have tried my best to answer this question. If any senior happens to pass by, plz care to answer the other question (Q.1 and Q.2) and point out any mistakes made by me.
Ice Blue