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Related Questions
Is Bad debts an asset or liability?
Neither, a bad debt becomes an expense on the P&L. the provision created against this is liability
What decreases an asset and liability?
Decrease in asset means being using of it decreases and liability decrease means payable of debts decreases.
Is allowance for bad debts a asset?
asset . it is contra to account receivable. and it has -Ve value . -ankur
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Treatment for bad debts in financial accounts?
Bad debt is an expense and so reflected in the P&L statement. The allowance for bad debts is a contra-asset account and offsets the amount of the receivable.
Is asset or liability?
asset
Is rent income a asset liability or owners equity?
asset liability
Is debtor an asset or liability?
It is an asset
Is Cash an asset or liability?
Asset.
Is a premises an asset or liability?
asset
Is premises a asset or liability?
asset
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