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Round your answers to the nearest pound.
Q1)
In the trial balance:
DR
CR
Accounts Receivable
12400
Allowance for doubtful debts
670
The business wants to create an allowance for doubtful debts of
8%
a)
What is the allowance for doubtful debts required this year?
b)
What is the increase in doubtful debts required?
c)
Fill in the partial income statement below:
Expenses
d)
Fill in the partial balance sheet below:
Current Assets
Accounts Receivable
Q2)
In the trial balance:
DR
CR
Accounts Receivable
8750
Allowance for doubtful debts
350
The business wants to create an allowance for doubtful debts of
12%
a)
What is the allowance for doubtful debts required this year?
b)
What is the increase in doubtful debts required?
c)
Fill in the partial income statement below:
d)
Fill in the partial balance sheet below:
Current Assets
Accounts Receivable
Q3)
In the trial balance:
DR
CR
Accounts Receivable
45800
Allowance for doubtful debts
3400
The business wants to create an allowance for doubtful debts of
15%
a)
What is the allowance for doubtful debts required this year?
b)
What is the increase in doubtful debts required?
c)
Fill in the partial income statement below:
d)
Fill in the partial balance sheet below:
Current Assets
Accounts Receivable
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