P.A bad debts & provision for bad debts 急需!!

2007-04-16 12:21 am
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更新1:

K.Lee satared his business on 1 january 2005. The financial year ands on 31 December. The debtors account had the following year-end balance: 2005 year $45200 2006 year $51300

更新2:

during these two years , the following debts had to be written off as bad: 2005 year lucky Ltd. $1600 / Mui Mui Co. $3500 2006 year J.Kim $930 / Sunny Co. $2800 / F.Fung $700

更新3:

prepare the following accounts for the year ended 31 dec 2005 and 2006 (A)the bad debts account (B)the extracted profit and loss accounts (C)the extracted balance sheets

回答 (1)

2007-04-17 11:38 am
✔ 最佳答案
(A) the bad debts account

In 31 Dec 2005

Dr. Bad Debts $5100
Cr. Debtor A/C - Lucky Ltd $1600
Cr. Debtor A/C - Mui Mui Co $3500

In 31 Dec 2006

Dr. Bad Debts $4430
Cr. Debtor A/C - J Kim $930
Cr. Debtor A/C - Sunny Co $2800
Cr. Debtor A/C - F Fung $700



(B) the extracted profit and loss account

In 31 Dec 2005

Expenses
Bad Debts $5100


In 31 Dec 2006

Expenses
Bad Debts $4430


(C) the extracted balance sheets

In 31 Dec 2005

Current Assets
Debtors ($45200 - $5100) $40100


In 31 Dec 2006

Current Assets
Debtors ($51300 - $4430) $46870


I hope I could help you!!


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