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Yes provision of doubtful debt is part of current assets as accounts receivable is part of current assets and this allowance is for short term period.
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Which account is opened for provision for doubtful debts?
Provison for doubtful debts, under liabiliity, will be created by debiting bad debts account.
Are intangible assets included in current assets?
Intangible Assets are not included in current assets. They are usually listed under Other Assets.
Are current assets debit or credit items?
Current assets are debit as all assets has default balance debit so current assets as well and these are shown under current assets section of balance sheet.
Should Provision for depreciation comes under current liabilities?
All provisions comes under current liabilities so provision for depreciation is as well because it is made for one fiscal year only.
Is investment comes under current assets?
if investment is for short term period then it is current asset otherwise it is long term assets.
Provision is an asset or a liability?
yes its come under Assets Account.if you are make provision for Expenses which may occurred in next few month (less than 12 month) the provision account come under Current Assets. (Just like Prepaid expenses)
Which account is opened for provision for doubtful debts?
Provison for doubtful debts, under liabiliity, will be created by debiting bad debts account.
Are intangible assets included in current assets?
Intangible Assets are not included in current assets. They are usually listed under Other Assets.
Are current assets debit or credit items?
Current assets are debit as all assets has default balance debit so current assets as well and these are shown under current assets section of balance sheet.
Should Provision for depreciation comes under current liabilities?
All provisions comes under current liabilities so provision for depreciation is as well because it is made for one fiscal year only.
Is investment comes under current assets?
if investment is for short term period then it is current asset otherwise it is long term assets.
What is core current asset under maximum permissible bank finance?
Core current assets are the permanent current assets. These are the essential assets that an organization needs to cover routine activities. To calculate the maximum permissible bank finance, core current assets value is subtracted from the total current assets, because it is not liquid.
Allowance for doubtful accounts is listed on the balance sheet under the caption of what?
current asset
Are owners equity and debtor fall under asset?
Owner equity is liability for business falls under liability or equity side while debters are current assets of business and fall under current assets.
Where is foreign currency translations reported?
These are reported in the company's balance sheet, and are listed under "ASSETS -> Non-Current Assets -> Intangible Assets".
Under which of the following categories would Inventory appear?
current assets
What is doubtful debt provision?
An item on the balance sheet that falls under liabilities. A provision is "raised" when the company has an expense for which it has not yet received an invoice and therefore does not know the amount. The provision is an estimate, which is charged against profits because the expense was incurred in the accounting period, which is being reported
