Please explain confused with this?? any one pls

707 views 1 replies

what kind of account is provision for bad and doubtful debts.??
in a text book it is given that it is a PERSONAL ACCOUNT  (as per English Approach) and a ASSET ACCOUNT as per American Approach )

 is that true  ??

 how is tat Asset account??  i think it is LIABILITY Account?? Explain this to me.

and also please explain this JE

Profit and loss acc DR                                               xxx    --

         To provision to bad and ddr acc                          --     xx    

If provision for bad and doubtful debts is an ASSET then y it is taken in liability side in balance sheet???

 

Please anyone pls explain..-

Replies (1)
It comes under catogery of REPRESENTATIVE PERSONAL ACCOUNT, nothing but PERSONAL A/C which debit balance becomes aset and credit balance is nothing but Liability . Plz refer 11th and 12th standard acounts books, to get grip over basics. There s no A/C named as"liability acount".

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details
Company
16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT , CA SemiQualifie

Vakilsearch.com

Chennai

CA Inter

View Details
Company
Featured 16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT, CA SemiQualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
13 July 2026
AVP / VP - PCG Advisory

Workforce Connect

Mumbai

MBA

View Details
Company
ARTICLESHIP 17 July 2026
Article Assistant and B.com pass

BANSAL YOGESH AND CO

Gautam Budh Nagar

B.Com

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
06 July 2026
Senior Accountant

Arvindkumar Maniar & Co.

Rajkot

CA

View Details