If you think yourself the best amongst the Accountants, solv

[Sijan92]

Please explain me, why the answer for AS Accounting May 03 paper 1 question 3 is A????

 

[ks136]

Re: If you think yourself the best amongst the Accountants,

Recheck the MS it is D

 

[Moiz]

Re: If you think yourself the best amongst the Accountants,

ks136 it is A in MS.
well Sijan92 here is how to do this question:

Net debtors 30 april 03= 17800-800=$17000
Provision for the year= 17000*0.02=340

fall in provision is an income so=580-340= 240 income
bad debt recovered= 200 income
bad debt= 800 expense

so total expense for bad debt= 800-(200+240)=$360

 

[Sijan92]

Re: If you think yourself the best amongst the Accountants,

Thanks man. Appreciate it

 

[Moiz]

Re: If you think yourself the best amongst the Accountants,

No problem