Given opening debtors of 11,500, Sales 48,000 and receipts from debtors 45,000, the closing debtors should total

Question:

Given opening debtors of £11,500, Sales £48,000 and receipts from debtors £45,000, the closing debtors should total

(A) £8,500

(B) £14,500

(D) £18,500

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Frank Woods Business Accounting Volume 1

ISBN: 9780273681496

10th Edition

Authors: Frank Wood, Alan Sangster

See More Books

Question Posted: Aug 19, 2023 11:32 PM

See More Questions

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1 and 2. On September 1, Irene opened a retail store that specializes in sports car...
A 25,000 kW turbo-generator is supplied with 128,000 kg/h of steam at 2.50 MPa and 400C when developing it rated load. There are actually extracted 10,400 kg h at 0.3 MPa and 8300 kg/h at 0.06 MPa....
Listed below are several terms and phrases associated with long-term debt. Pair each item from List A with the item from List B (by letter) that is most appropriately associated with it.
Stronger, leaner organisations are better able to compete in a global economy; however, this may mean workers face job losses. Is this system fair?
5 Why is the ability to speak the local language an important predictor of successful cross-cultural adjustment?
A firm has $ 1.5 million in sales, a Lerner index of 0.57, and a marginal cost of $ 50, and competes against 800 other firms in its relevant market. a. What price does this firm charge its customers?...
35 Check my work ! Part 1 of 2 0.13 points Required information Exercise 6-16A Calculate levels of profitability for a multiple-step income statement and the gross profit ratio (LO6-2, 6-7) [The...
In a Sales Ledger Control Account the Bad Debts written off should be shown in the account (A) As a debit (B) As a credit (C) Both as a debit and as a credit (D) As a balance carried down
A Provision for Doubtful Debts is created (A) When debtors become bankrupt (B) When debtors cease to be in business (C) To provide for possible bad debts (D) To write off bad debts.
Penquin Industries, Inc., manufactures a variety of plastic food containers and serving dishes. The company's income statement for this year in a variable-costing format is as follows: Penquin's...
(b) A cylindrical storage tank with base area 90 m is being filled with water through an entry duct with cross-section area 250 cm, as shown in Figure 3. Concurrently, water is being extracted from...
Po A cylinder/piston arrangement contains 5 kg of water at 100 C with x= 20%. Initially the piston of mass m, 75 kg rests on a set of stops (see figure). The outside pressure is 100 kPa, and the area...
TABLE 2 Present Value of an Annuity of $1 n 123456 8% 9% 0.925926 0.917431 4 7 8 9 10 11 12 13 14 15 16 17 11.652296 10.837770 10.105895 9.446649 12.165669 11.274066 10.477260 9.763223 18 19...
There are 4 suits (heart, diamond, clover, and spade) in a 52-card deck, and each suit has 13 cards. Suppose your experiment is to draw one card from a deck and observe what suit it is. Express the...
Write isotopic symbol of zirconium and how many neutrons are present in one atom of this isotope
Diana acquires, for $65,000, and places in service a 5-year class asset on December 19, 2016. It is the only asset that Diana acquires during 2016. Diana does not elect immediate expensing under ...
Multiple Choice Questions: 1. The largest component of aggregate demand is? a. Government purchases. b. Net exports. c. Consumption. d. Investment. 2. A reduction in personal income taxes, other...
A machine with a four-year useful life could be purchased for 50,000. It would have zero residual value at the end of the four years. Alternatively, the machine could be rented at 15,180 per annum...
Two mutually exclusive alternatives are available. Project X will require initial investment of 50,000 and run for three years at a cost of 8,000 per annum. Project Y will require initial investment...
Two mutually exclusive alternatives are available. Project X will require initial investment of 50,000 and run for three years at a cost of 8,000 per annum. Project Y will require initial investment...
An underlying asset price is at 100, its annual volatility is 25% and the risk free interest rate is 5%. A European call option has a strike of 85 and a maturity of 40 days. Its BlackScholes price is...
Prescott Football Manufacturing had the following operating results for 2 0 1 9 : sales = $ 3 0 , 8 2 4 ; cost of goods sold = $ 2 1 , 9 7 4 ; depreciation expense = $ 3 , 6 0 3 ; interest expense =...
On January 1, 2018, Brooks Corporation exchanged $1,259,000 fair-value consideration for all of the outstanding voting stock of Chandler, Inc. At the acquisition date, Chandler had a book value equal...

Given opening debtors of 11,500, Sales 48,000 and receipts from debtors 45,000, the closing debtors should total

Question:

Step by Step Answer:

To calculate the closing debtors you can use the following formula Cl...View the full answer

Frank Woods Business Accounting Volume 1

Students also viewed these Business questions