Sundry debtor..................N20,000
Provision f...
Sundry debtor..................N20,000
Provision for bad debts........N500
Provision for bad debt at 4% of sundry debtors.
Calculate the provision to be taken to the balance sheet?
N780
N800
N1200
N200
Correct answer is B
The business owner made a provision of 500 as bad debt. Total debt owed was 20,000. At the end of the period, bad debts was 4%. Hence we have;
4% x 20000
0.04 x 20000 = 800
The accounting entries to record a cheque issued by a business is to ...
On the 30/5/93 Tolu & Co. paid 2 years rent of N50,000 which was debited to the rent account.&nb...
The process of reconciling cheques between banks is termed cheque? ...
Cash can be drawn from the bank using ...
Given: Fixed assets N85,600 Sales N197,000 Stock N34,300 Salaries N37,000 Purchases N127,700 S...
The total of the purchases day book is posted to the purchases account in the ...
Trade creditors account was maintained at 25% of the capital. What was the balance in the trade c...