Exrcise chapter 8 Bad debts Bnd provision doubtful debtsExercise chapter 8 Bad debts and provision doubtful debtsExercisesBad Debts AccountRMRM1.Normaslina Taib sells goods on credit and has prepared the following information forYr 7 Debtors aleYr 7P&L alc(n)632the last 3 years. Her finnncial year ends on 31 May.Yr 8 Debtors alc(ai)Yr 8P&L aleYear 8RM140,000 RM148.000 RM132,000Year 7Year 9Customer balances at 31 MayYr 9 Debtors a/eYr 9P&L alefri)RM900Bad debts to be written off at 31 MayProvision for Doubtful Debts:To be adjusted to % of net customerRM800RM6002%2.5%2%balanceb).Provision for Doubtful Debts.On 1 June Year 6 the balance on the Provision for Doubtful Debts Account wasProvision for Bad Debts AccountRMRMRM2,150.31/5/Yr 7 Bal c/d2,782 1/6/Yr 6Bal b'd2,15031/5/Yr 7 P&L632Required2.7822,782Prepare for each of the 3 years, the following Ledger Accounts:31/5/Yr 8 Bal c/d1/6/Yr 7Bal b'd2,782Bad Debts:31/5/Yr 8 P&L(m)14131/5/Yr 9 P&L(1)1/6/Yr 8Bal b'd31/5/Yr 9 Bal cd.(1)()

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Eecise chapter 8 Bad debts and provision doubtful debts Exercise chapter 8 Bad debts and provision doubtful debts Bad Debts Account RM Yr 7 Exercises RM 1. Normaslina Tasb sells goods on credit and has prepared the following information for Yr 7 Debtors a/c P&L alc 632 the last 3 years. Her finnncial year ends on 31 May Yr 8 Debtors a/e Yr 8 P&L a/c c Year 7 Year 8 Year 9 RM140,000 RM148.000 RMI132,000 RM900 Customer balances at 31 May Yr 9 Debtors ale Yr9 P&L ale Bad debts to be written off at 31 May RMS00 RM600 Provisson for Doubtful Debts: 2 To be adjasted to % of net customer balance 2,5% 2% b). Provision for Doubtful Debts. On 1 June Year 6 the balance on the Provision for Doubtful Debts Account was Provision for Bad Debts Account RM RM RM2,150 31/5/Yr 7 Bal cid 2,782 1/6/Yr 6 Bal b'd 2,150 31/5/Yr 7 P&L 632 Required 2,782 2,782 Prepare for eaclh of the 3 years, the following Ledger Accounts: 31/5/Yr 8 Bal eld 16 Yr 7 Bal b'd 2,782 a). . Bad Debts 31/5/Yt 8 P&L 141 31/5/Yr 9 P&I. 1/6 Yr 8 Bal bid 31/5/Yr 9 Bal cid

Eecise chapter 8 Bad debts and provision doubtful debts Exercise chapter 8 Bad debts and provision doubtful debts Bad Debts Account RM Yr 7 Exercises RM 1. Normaslina Tasb sells goods on credit and has prepared the following information for Yr 7 Debtors a/c P&L alc 632 the last 3 years. Her finnncial year ends on 31 May Yr 8 Debtors a/e Yr 8 P&L a/c c Year 7 Year 8 Year 9 RM140,000 RM148.000 RMI132,000 RM900 Customer balances at 31 May Yr 9 Debtors ale Yr9 P&L ale Bad debts to be written off at 31 May RMS00 RM600 Provisson for Doubtful Debts: 2 To be adjasted to % of net customer balance 2,5% 2% b). Provision for Doubtful Debts. On 1 June Year 6 the balance on the Provision for Doubtful Debts Account was Provision for Bad Debts Account RM RM RM2,150 31/5/Yr 7 Bal cid 2,782 1/6/Yr 6 Bal b'd 2,150 31/5/Yr 7 P&L 632 Required 2,782 2,782 Prepare for eaclh of the 3 years, the following Ledger Accounts: 31/5/Yr 8 Bal eld 16 Yr 7 Bal b'd 2,782 a). . Bad Debts 31/5/Yt 8 P&L 141 31/5/Yr 9 P&I. 1/6 Yr 8 Bal bid 31/5/Yr 9 Bal cid

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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Journal entry worksheet
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