Financial State...

The provision for bad debts is made by crediting ________.

What will be the treatment of "accrued income" if appearing in the Trial Balance.

What will be the treatment of prepaid expenses if adjustment of it is appearing outside the trial Balance?

Total Debtors on $$31.12.2009$$ were Rs. $$48,000$$ before writing off bad debts but after allowing discounts. During the year bad-debts amounted to Rs. $$2,000$$ and discount allowed were Rs. $$100$$. It is the firm's policy to maintain a provision of $$5\%$$ against bad and doubtful debts. Find out the amount of provision for Bad and Doubtful debts as an $$31.12.09$$.

Find out the corrected net profit.
Profit before taking into account following adjustments was Rs. $$7,00,000$$
$$1$$. Rs. $$1,00,000$$ spent on purchase of motor car for business purpose, treated as expenses in profit & loss A/c
$$2$$. Rs. $$15,000$$ p.m. rent outstanding for the month of February and March not taken into account.

Prepaid Expense of a financial year is related with the ___________.

A and B are partners having capital of Rs. 50,000 and Rs. 60,000 respectively. Interest on capital is given @ 5% p. a. Profits for the year before the appropriation is Rs. 4.600 provide interest on capital out of profits. Interest allocated to partners is:

The manager of a firm is entitled to a commission of $$10\%$$ on net profit after his commission. If the net profit of the firm before charging commission is Rs. $$4,40,000$$. The amount of manager's commission will be.

At the end of the financial year accounts receivable has a balance of Rs. $$1,00,000$$ and provision for the bad & doubtful debts provided amounting to Rs. $$7,000$$. Net realizable value of the accounts receivable is ________ .

The debts written off as bad, subsequently collected by proprietor in his personal capacity and debt by him. What is accounting treatment for this transaction?