financial accounts, Financial Accounting

Assignment Help:
The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000.
10 marks
Summer 2013
Sundry Debtors Rs.160000
Bad Debts written off Rs 9000
Discount allowed to Debtors Rs. 1800
Reserve for Bad and doubtful Debts 31-12-1999 Rs. 16500
Reserve for discount on Debtors 31-12-1999 Rs. 3200
You are required to provide the bad and doubtful debts at 5% and for discount on debtors at 2%. Show the adjustments for bad debts, bad debts reserve, discount account, and provision for discount on debtors.

Related Discussions:- financial accounts

Defence of trustee-breach of trust-trusts laws, Defence of trustee   1) He...

Defence of trustee   1) He may be relieved from liability if, in the opinion of the court, he acted honestly and reasonably and ought to be excused; 2) He may also be released

Hsa advantages , A HEALTH SAVINGS ACCOUNT AT FRONTLINE PR Susan Berry...

A HEALTH SAVINGS ACCOUNT AT FRONTLINE PR Susan Berry just returned from a national conference on compensation and benefits where she attended a session on Health Savings Accou

Absorption costing, It is a managerial accounting cost method of expensing ...

It is a managerial accounting cost method of expensing all costs related with producing a particular product. Absorption costing utilizes the total direct costs and overhead costs

PB7-1 Analyzing the Effects of Four Alternative Inventory Me, Mojo Industri...

Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a

What is the number of shares, Terry Corporation had 300,000 shares of commo...

Terry Corporation had 300,000 shares of common stock outstanding at December 31, 2010. In addition, it had 90,000 stock options outstanding, which had been granted to certain execu

What are usaco''s options? explain, USAco is the wholly-owned U.S. subsidia...

USAco is the wholly-owned U.S. subsidiary of ASIAco, a Japanese parent corporation that manufactures automobiles and sells them to USAco for resale in the United States. ASIAco sel

What is amount per share, Q. What is Amount per share? Par Value - Amou...

Q. What is Amount per share? Par Value - Amount per share set in ARTICLES OF INCORPORATION of a CORPORATION to be entered in CAPITAL STOCKS account where it's left permanently

Objectives of inventory management, The twin objectives of inventory manage...

The twin objectives of inventory management are financial and operational. The operational objective implies that the materials and spares would be obtainable in sufficient quantit

Financial leverage - ratio analysis, Provide a brief (one typed page) discu...

Provide a brief (one typed page) discussion of analysis of the ratios of your company versus the competitor and the industry, addressing your company's liquidity, solvency, profita

Illustrate management of commercial and political risk, Q. Illustrate Manag...

Q. Illustrate Management of commercial and political risk? Commercial risk comprises both the physical risk that goods in transit may be lost stolen or destroyed as well as the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd