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Allowance for doubtful accounts is reported in the a balance sheet or a income sheet?
Wiki User
∙ 14y ago
balance sheet
Wiki User
∙ 14y ago
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What part of balance sheet is allowance for doubtful accounts reported?
The allowance for doubtful accounts is a reduction to the accounts receivable. This is a contra account, similar to accumulated depreciation.
Is allowance for doubtful accounts included in Balance sheet?
Yes allowance for doubtful accounts is shown in balance sheet
What is the normal balance for allowance for doubtful accounts?
Credit
What kind of an account (asset liability etc.) is Allowance for Doubtful Accounts and is its normal balance a debit or a credit?
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
Allowance for doubtful accounts is listed on the balance sheet under the caption of what?
current asset
What is the type of account in normal balance of allowance for doubtful accounts?
contra asset, credit
The balance in Allowance for Doubtful Accounts must be considered prior to end of period adjustment when using what methods?
Allowance Method
On the balance sheet the amount shown for the Allowance for Doubtful Accounts is equal to the?
total estimated uncollectible accounts as of the end of the year
If Allowance for doubtful accounts increased why would allowance for doubtful accounts as a percentage of accounts receivable decrease as well?
If you started the period with 10,000 in A/R with a 1,000 allowance for bad debts (10%) and then determined that 5% was an adequate allowance but A/R at the end of the period was 50,000, you would still have to increase your allowance by 1,500 to a balance of 2,500.
Allowance for doubtful accounts is what type of account?
Asset Contra account to Accounts Receivable (Contra-Asset). Normal balance is credit.
Allowance for doubtful accounts is listed on the balance sheet under what caption?
Answer:The allowance for uncollectible accounts is a contra T-account to accounts receivable. Both are presented under current assets. The allowance can also be subtracted from accounts receivables, showing the net value (common for listed companies).
The balance in allowance for doubtful accounts must be carefully considered prior to the end of the year adjustment when applying which method?
estimate based on an analysis of recivable
