Adjustment of partly unexpired expenses - Listen - COMMERCE

Adjustment of partly unexpired expenses

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Description

Some times expenses paid may partly belongs to next accounting period. Such portion should be treated as prepaid expenses

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Explanation to problem on bad debts and provision

New provision and further bad debts is always deducted from debtors in balancesheet and additional provision((bad debt+further bad debts+new provision)-old provision) to be debited or provided in profit and loss account and if old provision is more than bad debts+further bad debts+ new provision...

Published 07/14/20

Final accounts with adjustments 1

To record pending transactions on accrual basis

Published 07/10/20

Final accounts with adjustments 1

Adjustments are required to incorporate pending transactions in the books of aacounts

Published 07/10/20