Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Asset section of the Balance Sheet of Aubergine Ltd at the 30th June 20X2 is presented below: Current Assets $ Cash at Bank $-

image text in transcribed

The Asset section of the Balance Sheet of Aubergine Ltd at the 30th June 20X2 is presented below: Current Assets $ Cash at Bank $- 15,354 79,840 Inventory Accounts Receivable Less Allowance for Doubtful Debts 42,387 (3,981) 38,406 133,600 Non-Current Assets Plant & Equipment Less Accumulated depreciation Intangibles 1,950,000 (390,000) 1,560,000 250,000 1,810,000 TOTAL ASSETS 1,943,600 Note that where journal entries are needed narrations are not required. Round any calculations to the nearest dollar. a) During the year ending 30th June 20x3, Aubergine Ltd identified the following debts as uncollectible on the dates mentioned: Date Debtore Bad debt $2 11/10/X2 D. Martyna 1,2542 18/2/X32 N. Fyfe 1,7672 Required Prepare journal entry/ies to write off these bad debts on the dates mentioned. 3 marks le DR CR Date E- H H H E E E E- E E E E- E- H HE E

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

Students also viewed these Accounting questions