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posted by  sizz on 6/30/2009 9:38:43 AM  |  status: Live  |  Earned Karma: 0

accounting

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Question Details:
  Consider the following data and identify the amount which will be shown in profit & loss account.                               

Particulars

Rs.

Bad debts

1,600

Provision for doubtful debts (old)

2,000

Current year’s provision (new)

1,000

       ? Rs. 600

       ? Rs. 1,600

       ? Rs. 2,000

       ? Rs. 2,600

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Sage
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posted by Domokun on 6/30/2009 10:13:36 AM  |  status: Live
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Response Details:
Profit & loss account:
Provision (new) + Bad debts - Provision (old) = 1000 + 1600 - 2000 = 600
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