Sundry debtor..................N20,000
Provision f...
Sundry debtor..................N20,000
Provision for bad debts........N500
Provision for bad debt at 4% of sundry debtors.
Calculate the provision to be taken to the balance sheet?
N780
N800
N1200
N200
Correct answer is B
The business owner made a provision of 500 as bad debt. Total debt owed was 20,000. At the end of the period, bad debts was 4%. Hence we have;
4% x 20000
0.04 x 20000 = 800
Credit sales is given at 160% of cash received. What is the balance c/d? debit 64300 ...
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \t...
When the going concern concept is no longer applicable, the fixed assets are recorded at their ...
When allotments have been fully paid, subscribers are referred to as ...
What is Kunle's share of the profit? ...
The first calculating machine in data processing was ...
The corresponding entry of personal accounts found in the debit side of the cashbook is to ...
When a proprietor withdraws cash from the business for private use, he ...