Show bad debts account for the year ended 31 december 2015

Assignment Help Financial Accounting

Reference no: EM131385736

A business had always made an allowance for doubtful debts at the rate of 3 per cent of accounts receivable. On 1 January 2015 the amount for this, brought forward from the previous year, was £400. During the year to 31 December 2015 the bad debts written-off amounted to £1,200. On 31 December 2011 the accounts receivable balance was £28,000 and the usual allowance for doubtful debts is to be made.
You are to show:

(a) The Bad Debts Account for the year ended 31 December 2015.

(b) The Allowance for Doubtful Debts Account for the year.

(d) The relevant extract from the Statement of Financial Position as at 31 December 2015.

Reference no: EM131385736

Questions Cloud

People in a large organization : You are the manager of 10 people in a large organization. All of them are very suspicious and upset when they get a memo from HR saying their jobs are going to be evaluated. How do you try to reassure them?

Describe some possible mainstream treatments : Describe some possible mainstream treatments that may be tied to such diagnoses. Based on what you have learned so far, how might treating Brian's problem behavior based on these diagnoses before understanding its function be problematic

How the group worked together : Based on a group project that you have been involved with (classroom, projects at work, projects at home, etc.), discuss the following:

How do the articles make you feel : CJ252- How do the articles make you feel? Do you find the arguments surprising, angering, confusing.....? Do you agree or disagree with arguments? Are these articles in line with what most people think (the common opinion)?

Show bad debts account for the year ended 31 december 2015 : Show the Bad Debts Account for the year ended 31 December 2015.- The Allowance for Doubtful Debts Account for the year.

Rewrite the expression in canonical maxterm form : Write the complement of f in "big M" notation and as a canonical maxterm expression.

Privacy-personal information : The privacy of personal information, and of health information in particular, continues to be a dynamic issue in the United States. As more and more health information is computerized, healthcare consumers express concern about their privacy and t..

Give the answer of muliple choice question : Janet is forecasting how much money her department needs to support a new project. She estimates that two people and $25,000 in expenses will cover her needs. Because management typically insists on reducing forecasts by 20 percent, she increases ..

What are the three different ways of downsizing : What are the three different ways of downsizing? What are the types of questions that an agency might want to answer when putting togather in human resources plan?

User Account

All Pages