FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

b) The balances from the Trial balance of Gibs ltd show that the company had sundry Debtors amounting to Ksh.300,000 as at 31 Dec 2020.

b) The balances from the Trial balance of Gibs ltd show that the company had sundry Debtors amounting to Ksh.300,000 as at 31 Dec 2020. Bad debts are provided at 10% and provision for doubtful debts at 10%. Ksh, 5000 (bad debt)previously written off was recovered in year 2020.

Required

Prepare and extract of both P&L account and Balance sheet as at 31 Dec 20205marks

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

Accounting Information Systems

Accounting Information Systems

Authors: James Hall

9th Edition

1305465113, 9781305465114

More Books

Students also viewed these Accounting questions

Question

★★★★★
The following information relates to James Company. Instructions Use the dollar-value LIFO method to compute the ending inventory for James Company for 2013 through2017. Ending Inventory (End-of-Year...

Answered: 1 week ago

Question

★★★★★
6. identify techniques for raising arousal for competition.

Answered: 1 week ago

Question

★★★★★
5. What are the four general profiles of English learners in todays classroom with which Nick should familiarize himself?

Answered: 1 week ago

Question

★★★★★
The density and specific heat of a plastic material are known (p = 950 kg/m 3 , c p = 1100 J/kg K), but its thermal conductivity is unknown. To determine the thermal conductivity, an experiment is...

Answered: 1 week ago

Question

★★★★★
what do I miss on this one? Tablet Direct is a direct marketer of computer hardware, software, peripherals, and electronics. In a recent annual report, the company reported that its revenue is...

Answered: 1 week ago

Question

★★★★★
Java - Use JOptionPane 2. Compute the area of a triangle (TriangleArea). Get both base and height from the user in inches (do not use the Scanner class), then calculate the area (formula below)....

Answered: 1 week ago

Question

★★★★★
2.1.35 A 1m x 1m square board is sup- ported by two strings AE and BF. The ten- sion in the string BF is 20 N. Express this tension as a vector. y E 2 m 2.5 m F 1 1 m A B plate 1 m 2 m D C x...

Answered: 1 week ago

Question

★★★★★
On January 15, 2014, Mary Barra became the chief executive officer (CEO) of General Motors, the first female CEO of a major global automaker. She is also a member of the GM board of directors....

Answered: 1 week ago

Question

★★★★★
Emily needs your help with building a display for cakes. She wants to include a small roof over the display to provide some shade and protection from the elements. She is trying out different...

Answered: 1 week ago

Question

★★★★★
An IT director reviews a cyber security audit and learns that an old accounting server is significantly out of compliance. Rather than attempting repairs, the director concludes that decommissioning...

Answered: 1 week ago

Question

★★★★★
The purpose of one-way ANOVA is to compare multiple means from the variations of the mean. The null hypothesis is Ho = 2 = = k and alternate is HA i Hj. We have the sample data in the table: Y1 Y2...

Answered: 1 week ago

Question

★★★★★
1. Why do we trust one type of information more than another?

Answered: 1 week ago

Question

★★★★★
9. Imagine giving a talk to an assembly that is critical of you. Imagine a large aggressive dog that is your friend and facing the assembly. Imagine further that you are on a mountain top and the...

Answered: 1 week ago

Question

★★★★★
8. Now spend two to three hours walking around listening to what people are saying. Place yourself in a place where you can hear what people are saying clearly and distinctly, for example in a cafe,...

Answered: 1 week ago

Previous Question Next Question