Bad debts
This query is : Open
Anwar Shaikh
(Querist)
26 April 2013
Dear All,
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
CA Ayush Agarwal
(Expert)
26 April 2013
Yes, For Claiming Baddebts Earlier You should Credit it to P&L Account.
(Except to Finance Company)For Those Principle Amt allowd as Bad debts.
(Except to Finance Company)For Those Principle Amt allowd as Bad debts.
Anwar Shaikh
(Querist)
17 June 2013
Dear All,
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Intimation under section 245
- GSTR-9C filing
- GST input credit on commercial property
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
