Provision for bad debts account

Assignment Help Accounting Basics

Reference no: EM13954700

As at the year end 31.12.X5 the following debts out of a total debtors' figure of

£54,500 are found to be bad:

A. Bloggs £780

B. Swift £320

P. Trent £1,500 - 50p in the £ is payable.

The balance sheet as at 31.12.X4 showed a provision for bad debts for the business of £2,100. The provision for bad debts as at 31.12.X5 is estimated to be 5% of debtors' balances. Show the bad debts account, provision for bad debts account and the balance sheet as at 31.12.X5.

Reference no: EM13954700

Questions Cloud

How technology affect delivery of health care in radiologic : How has technology affected the delivery of health care in radiologic and imaging sciences? How has fusion technology influenced patient care and diagnosis and how has this development impacted the growth of professionals within allied health?

Lower production costs and increase productivity : Briefly explain how a company can achieve lower production costs and increase productivity by improving the quality of its products or services.

An energy level diagram to show the formation : An energy level diagram to show the formation of these hybrid orbitals, naming the type of hybrid orbitals found in ammonia and the 4 on the N atom and how many will actually take part in bonding and why. Also I need help drawing an energy level diag..

Explain the basic logic of probability theory : A glass jar contains 6 red, 5 green, 8 blue and 3 yellow marbles. If a single marble is chosen at random from the jar, what is the probability of choosing a red marble? a green marble? a blue marble? a yellow marble?

Provision for bad debts account : The balance sheet as at 31.12.X4 showed a provision for bad debts for the business of £2,100. The provision for bad debts as at 31.12.X5 is estimated to be 5% of debtors' balances. Show the bad debts account, provision for bad debts account and th..

Discuss possible dissatisfiers-satisfiers and exciters : Select a business you are familiar with. Identify the business and then identify and discuss possible dissatisfiers, satisfiers, and exciters/delighters of the business.

Which machine should be purchased if the required rate : Determine the net present value for each machine and decide which machine should be purchased if the required rate of return is 10 percent. Ignore taxes.

About whom to select for questioning in the border regions : The U. S. Border Patrol has been accused of racial profiling in its decisions about whom to select for questioning in the border regions. People who "look Mexican" have been stopped and question under suspicion of being illegal immigrants.

Affect global logistics and supply chain decisions : In your opinion, what are the major sources of uncertainty (financial and non-financial) that can affect global logistics and supply chain decisions in auto, electronics, food and retail industries? How can those be mitigated?

User Account

All Pages