Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 10, 2024

A trade debt as at 3 0 th June 2 0 2 1 amounted to 4 1 8 , 4 0 0 . Allowance for

A trade debt as at

30

th June

2021

amounted to

418, 400 .

Allowance for doubtful debts brought forward as at

1

st July

2020

was

18, 800 .

The proprietor wishes that a debt of

3, 400

should be written off and the Allowance adjusted to cover

5 %

of debts receivables as at

30

th June

2021 .

Calculate the expense for the year.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

Getting Clinical Audit Right To Benefit Patients

Authors: Healthcare Quality

1st Edition

1873543069, 978-1873543061

More Books

Students also viewed these Accounting questions

Question

★★★★★

Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2011. Company management has the positive intent and ability to hold the bonds until...

Answered: 1 week ago

Question

★★★★★

What amount needs to be deposited into an account earning 4.3% interest compounded annually to have $21,707 in 11 years

Answered: 1 week ago

Question

★★★★★

=+1.2. Show that N and N are dense [A15] in (0, 1].

Answered: 1 week ago

Question

★★★★★

Hermann Industries is forecasting the following income statement: Sales $8,000,000 Operating costs excluding depr. & amort. 4,400,000 EBITDA $3,600,000 Depreciation & amortization 800,000 EBIT...

Answered: 1 week ago

Question

★★★★★

State whether operating income is higher under variable or absorption costing and the amount of the difference in reported operating income under the two methods. Treat each condition as an...

Answered: 1 week ago

Question

★★★★★

A large bird is flying horizontally with a horizontal velocity of 11 m/s. The bird is carrying a small fish he just scooped out of a lake. The bird is flying at a distance of 8 meters above the...

Answered: 1 week ago

Question

★★★★★

A hedger is short spot and long futures. Today, spot is 4.40 and the June future is 5.00. A bit later, spot goes to 5.00 and the June future goes to 5.10. What has happened to basis in this period?...

Answered: 1 week ago

Question

★★★★★

The EICAS CRTs (cathode ray tubes) are: Group of answer choices Identical Directly powered from the battery bus Cooled by AC-powered fans All the above Only b and c

Answered: 1 week ago

Question

★★★★★

A recruiter asks candidates for a customer service rep position, "Why are you interested in this role?" Which response ( s ) would hurt a candidate's chances of advancing to the next round? Select...

Answered: 1 week ago

Question

★★★★★

You are starting to draw up your plans for the program. You realize that employees are going to have a lot of questions about the change. You cannot get all of the questions handled in all - hands...

Answered: 1 week ago

Question

★★★★★

I need these charts filled in using the information given Instructions Analysis Ledger Trial Balance Greenwald and Mass developed a business and plan to begin by offering clinics for basic outdoor...

Answered: 1 week ago

Question

★★★★★

5. Understand how cultural values influence conflict behavior.

Answered: 1 week ago

Question

★★★★★

8. Explain the relationship between communication and context.

Answered: 1 week ago

Question

★★★★★

1. What methods were used in this case to identify the causes of high turnover and low productivity? What other methods could have been used to obtain better data?

Answered: 1 week ago

Previous Question Next Question