A. You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019 Cash Sales Cost of Goods Sold Amount received in advance for services to be performed in August 2019 Rent expenses for year ended 30 June 2019 Rent Prepaid for two months to 31 August 2019 Doubtful debts expenses Amount provided in 2019 for employees' long-service leave entitlements Goodwill impairment expenses 950 000 35 000 9 500 9 000 1 200 1 200 5 000 7 000 Required: Calculate the taxable profit and accounting profit for the year ending 30 June 2019.

A. You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019 Cash Sales Cost of Goods Sold Amount received in advance for services to be performed in August 2019 Rent expenses for year ended 30 June 2019 Rent Prepaid for two months to 31 August 2019 Doubtful debts expenses Amount provided in 2019 for employees' long-service leave entitlements Goodwill impairment expenses 950 000 35 000 9 500 9 000 1 200 1 200 5 000 7 000 Required: Calculate the taxable profit and accounting profit for the year ending 30 June 2019.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting
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Based on the given, these ar the requirements: How much should be reported as “Uncollectible Accounts Expense” in its fiscal year ending May 31, 2021 statement of comprehensive income? How much is the balance of the “Allowance for Uncollectible Accounts” to be reported in the Statement of Financial Position as at May 31, 2021? How much is the Amortized Cost/Net Realizable Value of the Accounts Receivable at May 31, 2021?
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