A: $42,000
B: $33,925
C: $70,500
D: $32,500
举一反三
- At 31 December 20X2 a company's receivables totalled £400,000 and an allowance for receivables of £50,000 had been brought forward from the year ended 31 December 20X1. It was decided to write off debts totalling £38,000 and to adjust the allowance for receivables to 10% of the receivables.What charge for receivables expense should appear in the company's statement of profit or loss for the year ended 31 December 20X2? A: £74,200 B: £51,800 C: £28,000 D: £24,200
- At 30 June 20X5 a company’s allowance for receivables was $39,000. At 30 June 20X6 trade receivables totalled$517,000. It was decided to write off debts totalling $37,000 and to adjust the allowance for receivables to theequivalent of 5% of the trade receivables based on past events.What figure should appear in the income statement for the year ended 30 June 20X6 for receivables expense? A: $61,000 B: $52,000 C: $22,000 D: $37,000
- A business must write off an irrecoverable debt of $3,000.What is the journal entry to record this in the nominal ledger? A: Debit Trade receivables $3 ,000; Credit Sales $3,000 B: Debit Sales $3,000; Credit Trade receivables $3 ,000 C: Debit Irrecoverable debt expense $3,000; Credit Trade receivables $3,000 D: Debit Trade receivables $3,000; Credit Sales $3,000
- North Co has a receivables balance at 31 October 20X7 of $456,330. The accountant at North is preparing the financial statements for the year ended 31 October 20X7 and must account for the following. 1 A balance owed by South Co of $780 is deemed irrecoverable and must be written off. 2 The brought forward receivables allowance is $15,255. The allowance for receivables should be adjusted to the equivalent of 5% of the outstanding receivables balances. 3 A payment of $450 from East Co has been received on 30 October. The payment relates to a balance that had previously been written off as irrecoverable by North Co. What value for receivables should appear in the statement of financial position of North Co at 31 October 20X7?
- A business discovers that a customer has become bankrupt. The customer owes the business $2,360. If sales tax is 20%, what accounting entries are necessary? A: DR Irrecoverable debts: $2,360, CR Receivables: $2,360 B: DR Irrecoverable debts: $1,888, DR Sales tax: $472, CR Receivables: $2,360 C: DR Irrecoverable debts: $2,360, CR Sales tax: $393.33, CR Receivables: $1,966.67 D: DR Irrecoverable debts: $1,966.67, DR Sales tax: $393.33, CR Receivables: $2,360
内容
- 0
The auditor of P Co is planning the audit work on trade receivables.Which of the following procedures could not be performed by using computer-assisted audit techniques? A: Selection of a sample of receivables for confirmation B: Calculation of receivables days C: C Production of receivables' confirmation letters D: Evaluation of the adequacy of the allowance for irrecoverable receivables
- 1
Which of the following would a decrease in the allowance for receivables result in?
- 2
A company has opening receivables at the start of March of $356,789. 5% of receivables will be written off as irrecoverable debts. Budgeted sales in the month are $875,234 and closing receivables are expected to be $379,365. How much cash is expected to be received from receivables? A: $852,658 B: $834,819 C: $897,810 D: $915,649
- 3
The auditor of P Co is planning the audit work on trade receivables.Which of the following procedures could not be performed by using computer-assisted audit techniques？（ ）。 A: Evaluation of the adequacy of the allowance for irrecoverable receivables B: Selection of a sample of receivables for confirmation C: Calculation of receivables days D: Production of receivables' confirmation letters
- 4
The difference between the parent company's "Other Receivables"<br/>ending amount less the "Other Receivables" ending amount in<br/>the consolidated statement is other receivables for ( ). A: subsidiary B: the parent company C: Brother Company D: A or B or C