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-   -   Where do these Accounts go? (https://www.askmehelpdesk.com/showthread.php?t=11656)

  • Aug 9, 2005, 12:20 AM
    L_Breezy
    Where do these Accounts go?
    I have to prepare financial statements for an assignment and I was wondering on which statements these accounts are relevant and reported and what are they classified as(revenue, expense, liability, asset etc. )

    Provision for Loss
    Accumulated Depreciation
    Allowance for Doubtful Accounts

    Any help would be appreciated. Thanks in advance.
  • Aug 9, 2005, 10:13 AM
    lnguyen
    Provision lost is classified as Expense
    Accumulated Depreciation is a Contra-Asset, so it belongs to Assets.
  • Aug 9, 2005, 10:16 AM
    lnguyen
    Provision lost- Expense (income statement)
    Accumulated Depreciation is a Contra-Asset, so it belongs to Assets. (B/S)
    Allowance for Doubtful Accounts: Assets (B/S)
    (A/R less: allowance for doubtful acct.)

    HOPE THIS HELP.

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