4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks) 4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks) 4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks) accounting period. 3) Non-current assets are depreciated using the straight-line method. Buildings have a residual value of 0 and a useful life of 20 years. The transportation element has a residual value of 10,000 and a useful life of 10 years. 4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks) 4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks) 4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks) 4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks) accounting period. 3) Non-current assets are depreciated using the straight-line method. Buildings have a residual value of 0 and a useful life of 20 years. The transportation element has a residual value of 10,000 and a useful life of 10 years. 4) On 31/12/2021 the transportation element is sold for 100,000. 5) Managers of Happiness Ltd. estimate that the provision for doubtful debts needs to equal the 20% of the trade receivables final balance. Page 2 of 4 6) On 30/06/2021, Happiness Ltd. acquires on cash an insurance for 24 months for 32,400 paid on cash. 7) Corporate tax percentage is 19%. (15 marks) c) Draw the journal entries corresponding to the additional information from point b). (12 marks)