Use the following to answer the given question

$\begin{array}{c|c} & N \\ \hline \text{Provision for bad debts} & 1,000 Cr \\ \text{Bad debts} & 500Dr \\ debtors & 50,000Dr \\ \text{Additional bad debts to be written off} & 500 \end{array}$

New provision for bad debts to stand at 5% of debtors. In the balance sheet, the net figures for the profit is

Similar Questions

Given: Capital ...........N1000 Liabilities........N500 Assets.............N1500 The accountin...

On dissolution, the final distribution of cash to partners is based on? ...

If a company values its stock in the period of rising prices using LIFO method, there is a tendency ...

Use the following information, \(\begin{array}{c|c} & Le\\ \hline \text{Sales} & 183,400 \\...

Liabilities                     �...

The medium of correcting errors whose differences are shown in the trial balance is by the use of? ...

What is the main purpose of transaction file? ...

Which of the following are Personal Accounts? i. wages ii. debtors ii. creditors iv. buildings ...

What is Kunle's share of the profit? ...

Use the following information to answer the given question \(\begin{array}{c|c} & DR & CR \\ & N...