Help Debts

Posts Tagged ‘bad debts’

You own an automobile parts company and have been approached by a leading car manufacturer to supply parts to the company. How would you determine that the car manufacturer has a good record of servicing sales and paying its suppliers? What are the signs you would look out for in the financial statements for the possibility of bad debts? Give reasons for your answers.

The people I used to work for are owed big bucks by the Clinton Campaign, have been for many months. Now they’ve been told that Senator Obama is going to make her bad debts good. Is this true or just another Clinton deception?

Does it go in the profit and loss?

And also does the bad debts go in the profit and loss?

and where does the production wages go?

and where does bank charges go?

I would like to pay off bad debts, but I’m wondering if it’s worth it. Even if I pay it off, will it ever matter? I worked as a bill collector for 2 years, although we were trained to lie about how it truly affects your report.

The method most used by business to account for bad debts related to accounts receivable is called?

A-Percentage of Credit Sales
B-Estimated Bad debts
C-Aging of Accounting receivable
D-Direct Write-off
E-Straight line write off

Mention 2 occasions when a business can decide to write off a debtor as bad debts …

I accumulated some bad debts when I was 18 and not prepared for them, and was wondering if there are programs to help people like that.