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
Ant and Bee withdrew GH⊄ 14,000 and GH⊄ 10,000 respectively at 8% per annum from the partn...
Determine the value of closing stock using the LIFO method ...
The allocation of funds from treasury to accounting heads in public sector is ...
In which ledger is the account of yao, a debtor found? ...
\(\begin{array}{c|c} & ₦\\ \hline \text{Balance as per cash book} & 8,000 Cr\\ \text{Unpre...
A set of instruments fed into a computer for accomplishing a given task is a/an ...
A company advertised and issued 750,000, 12% preference shares of N1 each to be issued ₦1.50 ...
A cash payment of ₦85 to Regina was entered in the books as ₦58. The entries to correct the erro...
Use the following information to answer the given question \(\begin{array}{c|c} \text{1/1/06 Debt...