✔ 最佳答案
a.
summary of debtors (before provision) as at 31/12/2006
- Sam Limited $100,000 (no change)
- Ann Limited $ nil ($80,000 is written off as it was in liquidation)
- Tom $30,000 ($30,000 is reversed as Tom returned $30,000 goods)
- Chris $40,000 (no change)
- John $10,000 ($10,000 is corrected as $10,000 is double-charged)
summary of debtors (after provision) as at 31/12/2006 (after deduction results in b)
- Sam Limited $97,800
- Ann Limited $ nil
- Tom $29,400
- Chris $38,400
- John $9,800
b.
provision for doubtful debt required for the year ended 31/12/2006
- Sam Limited $20,000*3% + $80,000*2% = $2,200
- Ann Limited $ nil (as all are written off)
- Tom $30,000*2% = $600
- Chris $40,000*4% = $1,600
- John $10,000*2% = $200
total provision required =$4600
Since provision for bad debts brought forward was $4,000, further $600 of provision for bad debts is to be made for the year ended 31/12/2006
c.
income statement extract:
Sales Cr. $260,000 ($100,000+$80,000+$30,000+$40,000+$10,000)
Bad debts Dr. $80,000
Provision for bad debts Dr. $600
Balance sheet extract:
Debtors Dr. $180,000
Provision for debtors Cr $4,600
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