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answer both VPH At the beginning of the year, X Ltd. had a credit balance of $ 25000 in its allowance for doubtful accounts. During
answer both
VPH At the beginning of the year, X Ltd. had a credit balance of $ 25000 in its allowance for doubtful accounts. During the year X. Ltd. had wrote off $ 28000 of accounts receivable and had recoveries of $ 2000. At the end of the year, using the aging method, X Ltd. determined that a balance of $ 70000 was required in its allowance for doubtful accounts. What was X. Ltd.'s bad debt expense for the year? Your Answer: Answer Question 11 (1 point) On January 1, year 1, ABC. Ltd. purchased a piece of equipment with a cost of $ 200000. The equipment has a useful life of 5 years and a residual value of $ 30000 and is being depreciated under the straight line method. The equipment was sold on October 1, year 4 for $ 70000. Calculate the gain or loss on disposal. If the amount is a gain, enter the answer as a positive amount below (i.e. 20000). If the amount is a loss, enter the answer as negative amount below (i.e. -20000). Your
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