Balances on 28 February 2021 Balance sheet section Vehicles at cost Equipment at cost nventory Provision for bad debts R 90 000 R 50 000 R 100 000 2 000
Balances on 28 February 2021 Balance sheet section Vehicles at cost Equipment at cost nventory Provision for bad debts R 90 000 R 50 000 R 100 000 2 000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 9E: Estimating Bad Debts from Receivables Balances The following information is extracted from Shelton...
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![NCOSA
Balances on 28 February 2021
Balance sheet section
Vehicles at cost
Equipment at cost
Inventory
Provision for bad debts
Nominal accounts section
R
OA. R3 800
B. R97 400
O C. R1 200
O D. R102 600
90 000
R
50 000
R 100 000
2 000
Bad debts
Telephone
Adjustments
- Inventory to a value of R2 600 was donated to the KZN violent victims.
Physical stock taking at the end of the year revealed that only R96 200 inventory available.
After taking the above adjustments into account, Inventory deficit account should reflect:
R
R
500
1 500
A
O
N
M
P](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc662acd0-7e66-4a58-9ccf-c3346a2d9b41%2F2e2378b9-113f-453b-ba41-4dc00e0743aa%2F0ztmmx8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:NCOSA
Balances on 28 February 2021
Balance sheet section
Vehicles at cost
Equipment at cost
Inventory
Provision for bad debts
Nominal accounts section
R
OA. R3 800
B. R97 400
O C. R1 200
O D. R102 600
90 000
R
50 000
R 100 000
2 000
Bad debts
Telephone
Adjustments
- Inventory to a value of R2 600 was donated to the KZN violent victims.
Physical stock taking at the end of the year revealed that only R96 200 inventory available.
After taking the above adjustments into account, Inventory deficit account should reflect:
R
R
500
1 500
A
O
N
M
P
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