Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A business makes a provision for doubtful debts equal to 5% of its trade receivables. At 31 March 2012, net trade receivables were shown in

A business makes a provision for doubtful debts equal to 5% of its trade receivables. At 31 March 2012, net trade receivables were shown in the Statement of Financial position as RM17,100. At 31 March 2013, the balance on its Sales Ledger Control account was RM19,000. In the year ended 31 March 2013, a bad debt of RM800 had been written off. How much should be debited in the Statement of Comprehensive Income for the year ended 31 March 2013 for the provision for doubtful debts?
image text in transcribed
Question 6 Not yet answered Marked out of 1.00 P Flag question 5. C3. A business makes a provision for doubtful debts equal to 5% of its trade receivables. At 31 March 2012, net trade receivables were shown in the Statement of Financial position as RM17,100. At 31 March 2013, the balance on its Sales Ledger Control account was RM19,000. In the year ended 31 March 2013, a bad debt of RM800 had been written off How much should be debited in the Statement of Comprehensive Income for the year ended 31 March 2013 for the provision for doubtful debts? Select one O a. RM55 O b. RM10 ? ?. RM50 O d. RM95 Next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Internal Audit

Authors: Mette Marx

1st Edition

0998140910, 978-0998140919

More Books

Students also viewed these Accounting questions

Question

f. Did they change their names? For what reasons?

Answered: 1 week ago