Treatment by Grade 10 Accounting https://padlet.com/grade9accounting/v1ndwf74ov7pmtms en-us 2023-05-07 17:56:15 UTC 2023-05-14 17:53:17 UTC hello@padlet.com What is the treatment of irrecoverable debts and debts recovered in financial statements? fahmeeda27 https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2580991276 2023-05-07 17:59:14 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2580991276 Lian zayed 9D Lian_Zayed_9D https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2581874899 Irrecoverable debts
Income statement- expense
Statement of financial position- deduct from trade receivables

Debts recovered
Income statement- income
Statement of financial position- deducted from provision for doubtful debts ]]> 2023-05-08 10:55:09 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2581874899 Amal 9C https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2581977098 Irrecoverable debts are recorded as expenses in income statement while recovered debts are recorded as income .

Irrecoverable debts are deducted from trade receivables in statement of financial position while recovered debts are deducted from provision of doubtful debts ]]> 2023-05-08 12:35:02 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2581977098 Renad Mohammed 9C renadsigdesigners https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2582272763 In income statement : 

  • Irrecoverable debt is recorded as an expense (because the business can never get back the money) 
  • Debts recovered are recorded as An income (because the business gets back their money)

In statement of financial position :

  • Irrecoverable debt is subtracted from from trade receivables 
  • Debts recovered is subtracted from provision for doubtful debts
]]> 2023-05-08 15:38:00 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2582272763 Tala 9C https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2582436039 Irrecoverable debts are recorded as expense  in income statement and vice versa.

]]> 2023-05-08 17:28:07 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2582436039 Malak Mohamed 9D malaktawfik1977 https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2582555656 Irrecoverable debts are recorded as expense in income statement and is subtracted from the trade receivables in the statement of financial position 
Debts recovered are recorded as income in income statement and is subtracted from the provision for doubtful debts in statement of financial position ]]> 2023-05-08 18:58:25 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2582555656 Lilia Sharif 9C https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2583104821 In income statement, Irrecoverable debts are recorded as expenses while recovered debts are recorded as income

in statement of financial position, irrecoverable debts are subtracted from trade receivables while debts recovered are subtracted from provision of doubtful debts ]]> 2023-05-09 03:54:42 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2583104821 Rahma 9C https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2583827048 Irrecoverable debts are recorded as an expense in the income statement and are deducted from trade receivables in the statement of financial position.

Recovered debts are recorded as an income in the income statement, and are deducted from provision for doubtful debts in the statement of financial position ]]> 2023-05-09 13:33:20 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2583827048 Nour Ahmed 9C nemo13g8nwis https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2589416160 ▪️Irrecoverable debts are recorded as expenses in income statement and deducted from trade receivables in the balance sheet 

▪️ Recoverable debts are recorded as income in income statement and deducted from provision for doubtful debts in the balance sheet]]> 2023-05-13 09:29:22 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2589416160 Hana Habby https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2590187655 Irrecoverable debt is recorded as an expense in the income statement 
while recoverable debt is recorded as inclme]]> 2023-05-14 17:53:17 UTC https://padlet.com/grade9accounting/v1ndwf74ov7pmtms/wish/2590187655