Preparation of Balance Sheet Accounts receivable minus bad debt provision is debit or credit for bad

Hello, Accountant Zheng Diantong Online School This question:

Of course, it's the credit, and the bad debt provision ending balance can't be on the debit side.

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Number of accounts receivable statements = number of accounts receivable books - bad debt provision.

In the absence of a credit breakdown of advance receivables, your understanding is correct.

What is the difference between an asset impairment provision and a bad debt provision? What do they mean?

What is the difference between an asset impairment provision and a bad debt provision? 1. The extraction object is different. The provision for bad debts is drawn on the basis of accounts receivable and other receivables; The provision for impairment of assets is based on the reduction of fixed assets (buildings, machinery, etc.), intangible assets (trademark rights, patent rights), construction in progress, and entrusted loans.

2. The accounts that are credited to the allowance are different. The provision for bad debts is recorded in management expenses, the provision for impairment of assets is recorded in non-operating expenses, and the provision for impairment of entrusted loans is recorded in the secondary account of the account. 3. Different tax policies.

The provision for bad debts is not more than the allowable pre-tax deduction of the balance of receivables at the end of the year5; In general, the provision for impairment of assets shall not be deducted before tax, unless the asset has been adjusted for tax in the current period. And what do these two accounts mean? An impairment provision is when the carrying amount of an asset exceeds its recoverable amount.

The determination of whether an asset is impaired should be based on certain indications that the asset may have been impaired, and if any of these signs are present, the company should make a formal estimate of the amount recoverable. Bad debt provision is a provision account, at the end of each period, the enterprise estimates the bad debt loss of accounts receivable (including accounts receivable, other receivables, etc.), draws the bad debt provision and transfers it to the current expenses. When bad debts actually occur, the bad debts that have been accrued are directly written off.

Prepayments on the balance sheet do not require a provision for bad debts.

Bad debt provision refers to the provision of accounts receivable (including accounts receivable, other receivables, etc.) of an enterprise, which is a provision account. Enterprises use the allowance method for the accounting of bad debt losses. Under the allowance method, the enterprise should estimate the bad debt loss at the end of each period and set up a "bad debt provision" account.

The allowance method refers to the use of a certain method to estimate the loss of bad debts on a regular basis (at least at the end of each year), withdraw the provision for bad debts and transfer them to current expenses; When bad debts actually occur, it is a treatment method to directly write off the provision for bad debts that have been accrued and at the same time resell the corresponding balance of accounts receivable.

The method of making provision for bad debts is determined by the enterprise itself. The enterprise shall make a list of catalogues, specifying the scope of provision for bad debts, the method of withdrawal, the division of aging and the proportion of withdrawal, and shall be approved by the general meeting of shareholders or the board of directors, or the meeting of managers (factory directors) or similar institutions in accordance with the management authority, and shall be reported to the relevant parties for the record in accordance with the provisions of laws and administrative regulations, and shall be placed at the location of the company for investors' reference. Once the method of drawing bad debt provision is determined, it shall not be changed at will.

If there is a need for change, it should still be submitted to the relevant parties for the record after approval in accordance with the above procedures, and explained in the notes to the accounting statements.

Prepayment refers to the payment of ** units in advance with monetary funds or monetary equivalents in accordance with the provisions of the purchase contract. In daily accounting, the prepaid accounts are recorded according to the actual amount paid, such as the prepaid materials, the payment for the purchase of commodities, and the pre-purchase deposit for agricultural and sideline products that must be issued in advance and recovered later. For purchasing companies, prepaid accounts are a current asset.

Prepaid accounts generally include prepaid payments and prepaid purchase deposits. The prepaid accounts of construction enterprises mainly include prepaid project payments, prepaid material payments, etc.

A balance sheet, also known as a statement of financial position, is the main accounting statement that represents the financial position (i.e., the status of assets, liabilities and owners' equity) of an enterprise at a certain date (usually the end of each accounting period). The balance sheet uses the principle of accounting balance to divide the trading accounts such as assets, liabilities and shareholders' equity that comply with accounting principles into two major blocks: "assets" and "liabilities and shareholders' equity". In addition to the internal error removal, business direction, and prevention of malpractice, its report function can also allow all readers to understand the business status of the enterprise in the shortest possible time.

The provision for bad debts is an asset allowance account.

Definition of bad debt provision: refers to the provision of accounts receivable (including accounts receivable, other receivables, etc.) of the enterprise, which is a provision account.

Generally speaking, the bad debt provision account "credit" is used for provision; "Debit" is used to reverse bad debts when bad debts are recognized.

Specifically: When a company withdraws a provision for bad debts, the "Asset Impairment Loss" account is debited and the "Bad Debt Provision" account is credited. If the provision for bad debts to be withdrawn in the current period is greater than its book balance, it shall be withdrawn according to its difference; If the amount receivable is less than the book balance, the "Bad Debt Provision" account is debited and the "Asset Impairment Loss" account is credited.

For the receivables that cannot be recovered, the enterprise shall be approved as a bad debt loss, and the bad debt provision withdrawn shall be reversed, and the "bad debt provision" account shall be debited and the "accounts receivable" and "other receivables" accounts shall be credited.

The "Bad Debt Provision" account is the credit balance at the end of the period, which reflects the bad debt provision that has been withdrawn by the enterprise.

Summary. Hello, there is no separate bad debt provision item in the balance sheet, the bad debt provision is the allowance account for accounts receivable, and the accounts receivable items in the balance sheet should be filled in according to the total debit balance at the end of the period minus the bad debt provision of each detailed account. The "bad debt provision" account accounts for the provision for bad debts of receivables, resale, etc.

The provision for bad debts accrued by the enterprise in the current period shall be included in the asset impairment loss. The credit side of the "bad debt provision" account registers the amount of bad debt provision accrued in the current period, and the debit side registers the amount of bad debt provision offset by the actual bad debt loss, and the closing balance is generally on the credit side, reflecting the bad debt provision that has been accrued but not yet sold by the enterprise.

Hello, there is no separate bad debt provision item in the balance sheet, bad debt provision is the allowance of accounts receivable, and the accounts receivable items in the balance sheet should be filled in according to the total debit balance at the end of the period of each detailed account minus the amount after the bad debt provision. The "bad debt provision" account accounts for the provision for bad debts of receivables, resale, etc. The provision for bad debts accrued by the enterprise in the current period shall be included in the asset impairment loss.

The credit side of the "bad debt provision" account registers the amount of bad debt provision accrued in the current period, and the debit side registers the amount of bad debt provision offset by the actual bad debt loss, and the closing balance is generally on the credit side, reflecting the bad debt provision that has been accrued but not yet sold by the enterprise.

If so, if the balance of the bad debt provision is on the debit side, do you still need to subtract it? Need.

Summary. Entry, borrowing is the sign, and for assets and expenses, the debit is an increase and the credit is a decrease. For liabilities, equity, and income, the debit side is a decrease and the credit side is an increase. Increase, borrowing indicates the flow of value value, debit indicates where value goes, and credit indicates value**.

Hello, Hello, this is something that needs to be prepared by the borrower.

If so, if the balance of the bad debt provision is on the debit side, do you still need to subtract it?

Entry, borrowing is a hole or punch sign, for assets and expenses, the debit is an increase, and the credit is a decrease. For liabilities, equity, and income, the debit side is a decrease and the credit side is an increase. Increase, the loan represents the value value flow, the borrower indicates the value destination, and the credit group sock represents the value**.

Kiss, this is needed.

The increase in assets, in order to ensure that the equation is established, the total increase in liabilities, the total number of interests of all mind-holders, and the inevitable increase in the world or, either only the increase in liabilities, or only the increase in owners' equity, or both, but at this time the debit is the asset, then only the credit remains, so the increase in liabilities and owners' equity is included in the credit.

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Hello, I'm glad to answer for you The answer is as follows: fill in this way, there is no separate bad debt provision item in the balance sheet, the bad debt provision is the accounts receivable allowance account, and the accounts receivable items in the balance sheet should be filled in according to the total debit balance at the end of the period of each detailed account minus the amount after the bad debt provision. The credit side of the "bad debt provision" account registers the amount of bad debt provision accrued in the current period, the debit side debits the amount of bad debt provision offset by the actual bad debt loss, and the closing balance is generally on the credit side, reflecting the bad debt provision that has been accrued but not yet sold by the enterprise.

Preparation of Balance Sheet Accounts receivable minus bad debt provision is the debit or credit of the bad debt provision.

If so, if the balance of the bad debt provision is on the debit side, do you still need to subtract it?

Hello dear <>, I'm glad to answer for you The answer is as follows: fill in this way, there is no separate bad debt provision item in the balance sheet, bad debt provision is the accounts receivable allowance account, and the accounts receivable items in the balance sheet should be filled in according to the total debit balance at the end of the period of each detailed account minus the amount after the bad debt provision. The credit side of the "bad debt provision" account registers the amount of bad debt provision accrued in the current period, and the debit side records the amount of bad debt provision offset by the actual bad debt loss, and the closing balance is generally on the credit side, reflecting the bad debt provision that has been accrued but not yet sold by the enterprise.

Provision for bad debts accrued for the current period The amount of provision for bad debts payable for the current period is calculated on the basis of accounts receivable (or the balance of credit (or debit) of the "provision for bad debts" account. Huaibei When calculating the bad debt provision, if the previous bad debt provision balance is debit, it needs to be added.

What is the provision for bad debts, the increase and decrease of accounts and loans are introduced as follows:

The provision for bad debts is an asset allowance account. Enterprises use the allowance method for the accounting of bad debt losses.

The allowance method refers to a method that adopts a certain method to estimate the bad debt loss on a regular basis or at least at the end of each year, extract the bad debt provision and transfer it to the current expense, and when the actual bad debt occurs, it directly writes off the provision for bad debts and resells the corresponding accounts receivable balance. Under the allowance method, the enterprise should estimate the bad debt loss at the end of each period and set up a "bad debt provision" account.

How to distinguish between debits and credits of bad debt provisions?

1. The bad debt provision account is the allowance account for accounts receivable;

2. The relationship between the increase and decrease of the borrower of the bad debt provision account is opposite to that of the general asset account, the debit side is reduced, and the credit side is the family, and the increase is guessed;

3. In the provision for bad debts, the debit side indicates the actual loss of bad debt provision or the amount of bad debt provision that has been written off;

4. In the provision for bad debts, the credit indicates the amount of bad debt provision withdrawn or the bad debts that have been recognized and resold are recovered;

The debit side registers the amount of losses and write-offs of accounts receivable that actually occur and the amount of write-offs that cannot be recovered, and the credit side registers the amount of bad debt provision withdrawn in the form of a mega.

How to do bad debt provision accounting entries.

Provision for bad debts.

Borrow: asset impairment loss - provision for bad debts.

Credit: provision for bad debts.

Bad debts are incurred. Debit: Provision for bad debts.

Credit: Accounts receivable.

Provision for bad debts and supplementary provision at the end of the year.

Borrow: asset impairment loss - provision for bad debts.

Credit: provision for bad debts.

Summary. Dear dear, it's a pleasure to answer your <>

The opening balance of accounts receivable should not be calculated by reducing the provision for bad debts. The opening balance of accounts receivable is the accumulated balance of accounts payable to customers that the company has not received at the beginning of an accounting period. Whereas, bad debt provision is an asset impairment provision for accounts receivable to deal with the expected bad debt loss.

Opening balances of accounts receivable and provision for bad debts are separate accounts and cannot be calculated or offset directly.

Is the opening balance of accounts receivable used to subtract bad debt provisions?

Dear dear, it's a pleasure to answer your <>

The opening balance of accounts receivable should not be calculated by reducing the provision for bad debts. The opening balance of accounts receivable is the accumulated balance of the amounts payable to customers that the company has not received at the beginning of an accounting period. Whereas, bad debt provision is an asset impairment provision for accounts receivable to deal with the expected bad debt loss.

Opening balances of accounts receivable and provision for bad debts are separate accounts and cannot be calculated or offset directly.

<>Related Expansion: Bad debt provision is an accounting estimate that needs to be evaluated based on historical loss data, experience, etc., and the corresponding allowance amount is provided. When calculating the company's profit, cash flow and other financial indicators, the opening balance and the provision for bad chain accounts each have their own roles and impacts.

Therefore, the opening balance of accounts receivable and the provision for bad debts need to be calculated and processed separately. <>

<> in terms of accounting treatment, the initial value of accounts receivable should be formed from the balance of the uncollected amounts of the previous period plus the accounts receivable sold in the current period. The provision for bad debts is made according to a certain proportion or according to the actual situation, and the calculation method will not affect the opening balance of accounts receivable.

Is the opening balance of fixed assets minus the opening balance of accumulated depreciation?

Is the closing balance of fixed assets minus the closing balance of accumulated depreciation?

The opening balance of a fixed asset should not be calculated by subtracting the opening balance of accumulated depreciation. The opening balance of fixed assets is the accumulated balance of the value of fixed assets owned by the company at the beginning of an accounting period. Accumulated depreciation, on the other hand, is a reduction in the land value of fixed assets, which is used to reflect the extent to which these fixed assets have been used or aged.

<> balance sheet, the closing balance of fixed assets is used minus the closing balance of accumulated depreciation.

The closing balance of a fixed asset should be the net value of the original value minus the accumulated depreciation. <>