banner_ad

Liabilities no longer written back

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 September 2025 Liabilities that is no longer require to pay , can i pass journal entry of
Sundry creditors A/C Dr.
To Liabilities No Longer written Back ( Indirect Income)
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
16 September 2025 Yes, when a liability such as sundry creditors is no longer required to be paid (for example, if the creditor waives the amount or it is written back), the correct journal entry is:

Sundry Creditors A/C Dr.
To Profit & Loss Adjustment A/C
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
19 September 2025 Good Luck...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details