"One customer to whom a sum of rupees 20 lakhs was advanced has become insolvent and it is expected that only 50% of the amount will be recovered from his estate."
In the above case what will be provision amount....... plz suggest answer.
DIPAYAN BASU (ARTICLE ASSISTANT) (47 Points)
30 May 2011"One customer to whom a sum of rupees 20 lakhs was advanced has become insolvent and it is expected that only 50% of the amount will be recovered from his estate."
In the above case what will be provision amount....... plz suggest answer.
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 30 May 2011
Unless u don recve all d money its better to make provision for full amount & when u recive any amount from his liquidator than reverse the amount recievd from the full provision made.
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