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Q: What is allowance for probable losses?
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What is the difference between allowances for loan losses and provision for loan losses?

The allowance for loan losses is a contra-asset account that appears on the balance sheet as an offset to loans receivable. It is an account with a running balance of the allowances for loan losses established to report loans receivable at their net realizable value. For example, if you have $100,000 in loans receivable and an allowance for loan losses of $20,000, the net realizable value of the loans receivable reported on the balance sheet would be $80,000 ($100,000 - $20,000). The allowance for loan losses is reduced when a loan or a portion of a loan is written off as uncollectible. The allowance for loan losses is increased when a provision for loan losses is established. The provision for loan losses is the current period expense for loan losses established in the current period. This provision is reported in the statement of operations (or income/loss statement). It represents the amount that is added to the allowance for loan losses in the current reporting period.


What is importance of pattern allowance?

pattern allowance is needed as it gives shrinkage allowance, machining allowance,draft allowance,shaking allowance and distortion allowance.


What is the abbreviation of allowance?

Abbreviation of 'Allowance' is Allwnce.


Can you give me a sentence with the word allowance?

I want allowance because I do chores OR I deserve allowance because I do chores OR I want my allowance now because I want to go shopping


What is the verb of allowance?

"Allow" is the verb form of "allowance".


What is the luggage allowance for Virgin economy planes?

To get your allowance


Is allowance a compound word?

Allowance is not a compound word.


What is the federal mileage allowance for a contractor?

Mileage allowance


What are the comparative and superlative forms of the word probable?

more probable most probable


What should a teens allowance be?

I suggest a six figure allowance.


What kind of allowance is provided in taper casting?

Taper allowance


Allowance of a regular student?

allowance for a regular student in 2017