Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please give me the answer as soon as possible. Thank you. Will give you a positive rating without hesitance. The following data relates to questions

Please give me the answer as soon as possible. Thank you. Will give you a positive rating without hesitance.

image text in transcribed

The following data relates to questions 11 and 12 The following is the aged receivables analysis for J Ltd at 30 April 20X3: Age of debt Less than 1 month 1-2 months 2-3 months Over 3 months Amount (S) 12,000 25,000 16, 000 6, 000 The company makes an allowance for receivables as follows: Allowance 0% 1% 5% 40% The allowance for receivables at 1 May 20X2 brought forward was $2,880. The entry for bad debts in the income statement for the year ended 30 April 20X3 and the net receivables figure in the statement of financial position at that date should be : Question 11 The entry for bad debts in the income statement for the year ended 30 April 20X3 is Question 12 The net receivables figure in the statement of financial position at that date is Question 13 On 1 May 20X3, E owed a supplier $1,500. During the month of May, E: purchased goods for $6,800 and the supplier offered a 15% Discount for payment within the month returned goods value at $ 350 which had been purchased in April 20X3 sent a cheque to the supplier for payment of the goods delivered in May The balance on the Supplier's account at the end of May 20X3 is The following data relates to questions 14 and 15 The following information was extracted from the statements of financial position of YK at 31 December 20X2 and at 31 December 20X1: 20X2 20X1 $'000 $ '000 Inventory 100 130 Receivables 160 130 Trade payables 120 115 Other payables 60 80 Question 14 What figure should appear as part of the statement of cash flows for the year ended 31 December 20X2? Question 15 Does this figure represent an inflow or outflow

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

Step: 3

blur-text-image

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

IT Auditing And Application Controls For Small And Mid Sized Enterprises Revenue Expenditure Inventory Payroll And More

Authors: Jason Wood, William Brown, Harry Howe

1st Edition

1118072618, 9781118072615

More Books

Students also viewed these Accounting questions