Question
The balances for Grose Ltd at 16 April are: Accounts receivable $49 350 Allowance for doubtful debts (5 800) $43 550 If an account for
The balances for Grose Ltd at 16 April are:
Accounts receivable | $49 350 | |||||
Allowance for doubtful debts | (5 800) | |||||
$43 550 |
If an account for $1200 is written off on 15 June, what is the estimated realisable value of accounts receivable after the write-off? (Ignore any GST adjustment for the purposes of this question.)
a | $42 350 |
b | $43 550 |
c | $44 750 |
d | $48 150 |
2]
|
|
3] Green Pastures has acquired equipment and incurred the following expenses.
$ | ||
Gross invoice price, net of GST, subject to terms of 5/10, n/30) | 46 500 | |
Transportation costs to get equipment to factory | 3 200 | |
Speeding ticket incurred by company driver while delivering equipment to the factory | 120 | |
Cost to repair wall damaged during installation | 1 200 | |
Special permit to allow wide load on freeway | 600 |
The equipment should be recorded in Green Pastures records at:
a | $46 500. |
b | $49 700. |
c | $50 300. |
d | $51 500. |
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