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Accounting
 
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Accounting for bank failure losses - how do you handle the accounting for the loss of deposits? For example, is it OK to create an expense account and do a general ledger transaction to credit the bank account and debit the newly created expense account?

By Dinfo Asked Mar 18 2008 11:03AM
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by rocketeer on Apr 23, 2009 at 10:57 am Permalink

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i study accounting and i have no idea of what you're speaking but I'll ask my prof. may be he'll help us.
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Accounting for bank failure losses - how do you handle the accounting for the loss of deposits? For example, is it OK to create an expense account and do a general ledger transaction to credit the bank account and debit the newly created expense account?

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