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Round your answers to the nearest pound.
Q1)
In the trial balance:
DR
CR
Accounts Receivable
12300
The business wants to create an allowance for doubtful debts of
3%
How much is the allowance for doubtful debts ?
What is the allowance for doubtful debts expense reported in the income statement?
What is the value of the accounts receivable to be reported in the Balance Sheet?
Complete the partial balance sheet below:
Current Assets
Accounts Receivable
Q2)
In the trial balance:
DR
CR
Accounts Receivable
16300
The business wants to create an allowance for doubtful debts of
7%
How much is the allowance for doubtful debts ?
What is the allowance for doubtful debts expense reported in the income statement?
What is the value of the accounts receivable to be reported in the Balance Sheet?
Complete the partial balance sheet below:
Current Assets
Accounts Receivable
Q3)
In the trial balance:
DR
CR
Accounts Receivable
8340
The business wants to create an allowance for doubtful debts of
14%
How much is the allowance for doubtful debts ?
What is the allowance for doubtful debts expense reported in the income statement?
What is the value of the accounts receivable to be reported in the Balance Sheet?
Complete the partial balance sheet below:
Current Assets
Accounts Receivable
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