--%>
Assignment Help - homework help

Provision for doubtful debts account

Write all the Steps for making provision for doubtful debts account?

E

Expert

Verified

Simple Steps for making provision for doubtful debts account:

Step1: Illustrate the opening balance of provision for doubtful debts account on credit side.

Step 2: Exhibit net amount of bad debts (that is, bad debts in trial balance + bad debts in outside of trial balance) on debit side of provision for doubtful debt account.

Step 3: Display the closing balance of provision for doubtful debts on debit side with latest rates that is charged on sundry debtors.

Step 4: When debit side is greater than credit side, then the difference will be shown in the credit side with writing gain and loss account as balancing figure. Now the total of both side of provision for doubtful debts account will counterpart.

   Related Questions in Auditing

  • Q : Audit A term usually referring to a

      A term usually referring to a financial audit is a set of procedures performed by accountants from a certified public accountant (CPA) firm. The procedures are designed to investigate and verify the accounting information that manage- ment puts in financial report. When the audit i

    		•
  • Q : Internal Audit vary From an External

    How Does an Internal Audit vary From an External Audit?

    		•
  • Q : In audit how to involve people In audit

    In audit how to involve people?

    		•
  • Q : Internal audit differ from an external

    How does the internal audit vary from an external audit?

    		•
  • Q : Top line revenue versus Bottom line

    What is the difference between Top line revenue and Bottom line revenue.

    		•
  • Q : What are Financial Audits Financial

    Financial Audits: It is a financial audit and is the critical analysis of the business's financial records and documentations. This can be completed at any level, from local to governmental. The financial profile or financial audit of the company will

    		•
  • Q : Audit report A signed letter from the

      A signed letter from the auditor of a company, included in the annual report, that state whether or not the finan- cial statements fairly present the results of operations and the financial position of the company. An annual audit is required by the Exchange and Securities Commissi

    		•
  • Q : Techniques of audit Write down the

    Write down the techniques which are used throughout an audit?

    		•
  • Q : What is Audit Management Audit

    Audit Management: It is a systematic assessment of processes and policies of an organization's management in the administration and the utilization of resources, tactical & strategic planning, and employee and organizational enhancement.

  • Q : Auditing i juz need answer of question

    i juz need answer of question 13 14 15 16... m uploading assignment having 16 questions i have done until 12... m gona upload solution as well

    		•