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Following are the extracts from the trial balance of a firm as at 31st March 2009Name of the accountDrCrSundry debtors2,05,000Bad debts3,000Additional Information
1) After preparing the trial balance, it is learnt that Mr.X a debtor has become insolvent and nothing could be recovered from him and, therefore the entireamount of Rs.5,000 due from him was irrecoverable.
2) Create 10% provision for doubtful debt.Required: Pass the necessary journal entries and show the sundry debtorsaccount, bad debts account, provision for doubtful debts account, P&L a/c andBalance sheet as at 31st March 2009.
describe the difference between autonomous expenditure and induced expenditure. Which sectors of the economy are assumed to have both types of spending and which are not? Explain your answer.
how would you reply to your coworker? consider the following items in your discussion1.do the tools help only in
Prepare required journal entries for 2014 and 2015. Be sure to indicate whether each entry should be made to an unrestricted or temporarily restricted fund and
An analysis of Goulding, Inc., disclosed changes in account balances for 2011 and the following supplementary data. From these data, calculate the net income or loss for 2011.
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on the basis of the following data for seller co. for 2008 and the preceding year ended december 31 2007 preparenbspa
ABC Company accepted a national credit card for a $3,000 purchase. The cost of the goods sold is $2,400. The credit card company charges a 3% fee. What is the impact of this transaction on net operating income?
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Compute the depreciation expense for year 2011 on the building using the straight-line method, assuming a 15-year life and a $25,650 salvage value.
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Further, Bluebird recognized a long-term capital loss of $20,000, and a short-term capital gain of $5,000. Illustrate what is the taxable income to be reported by Bluebird Corporation in 2010?
Santos is considering buying the part from a supplier for a quoted price of $2.70 per unit guaranteed for a three-year period. Should the company continue to manufacture the part, or should it buy the part from the outside supplier? Support your a..
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