Question

Consider the following data and identify the amount which will be deducted from sundry debtors in Balance
choring balaca bucted!
sheet (b) profit and loss a/c (c) balance sheet only (dl) trading Aic only
sheet.
1,600 hausfeito P & Ale
2,000 kept as opening balance
800
kept as
(c) 2,000
(d) 2,400
Inventory is
Particulars
Bad debts (from trial balance)
Provision for doubtful debts (old)
Current year's provision (new)
(a) 400
(b) 800​

Answer 1

Answer:

Bad debts from trial balance will be debited to Profit and Loss A/c. Provision for doubtful debts (old) will be kept as opening balance to "Provision for Doubtful Debt A/c". Current year's provision (new) will be kept as closing balance to "Provision for Doubtful Debt A/c" and this amount will be deducted from the debtors.

Explanation:

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