Accounting treatment


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 June 2014 if we have to pay to supplier then they are called creditor and recorded on the liability side of b/s. how to treat if now no longer going to pay to them.i.e(such as bad debt for debtors then what for creditor)



please reply soon.....

12 June 2014 First say that y u do not pay to them?

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 June 2014 because sir thesupplier's firm has been closed.so we are not paying to them

Profile Image

Guest

Profile Image

Guest (Expert)
12 June 2014 then it will be your part of income


as bad debt are expensed and this is a reverse type case

this will turn out to be your income

12 June 2014 If the Creditors r not in existence then the amount due to them will b treated as us Abnormal Income or Indirect Income.

16 June 2014 you may credit them in "Sundry balances written off" account.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details