GH¢ GH¢ GH¢ SAT LTD 58,000 4,000 12,000 12,000 30,000 NAN LTY 55,000 12,000 8,000 35,000 BUSH LTD 65,000 15,000 20,000 30,000 DAT LTD 56,000 8,000
The debtors ageing analysis for HARUNA limited is as shown below
HARUNA LIMITED
DEBTORS AGE ANALYSIS SHEET
AS AT 31/12/2013
|
|
TOTAL |
Equal or less than 3 months |
>3 months < than 6 months |
6 months to 1 year |
>1 year than 2 years |
|
Trade debtors |
GH¢ |
GH¢ |
GH¢ |
GH¢ |
GH¢ |
|
SAT LTD |
58,000 |
4,000 |
12,000 |
12,000 |
30,000 |
|
NAN LTY |
55,000 |
12,000 |
8,000 |
|
35,000 |
|
BUSH LTD |
65,000 |
|
15,000 |
20,000 |
30,000 |
|
DAT LTD |
56,000 |
8,000 |
|
8,000 |
40,000 |
|
TOTAL |
234,000 |
24,000 |
35,000 |
40,000 |
135,000 |
After a review of the debtors ageing analysis it was agreed as follows
|
|
Total |
Equal or less than 3 months |
>3 months <than 6 months |
6 months to 1 year |
>1 year less than 2 years |
|
Debt to be written off |
|
|
|
|
|
|
SAT LTD |
4,000 |
|
|
2,000 |
2,000 |
|
NAN LTY |
8,000 |
|
2,000 |
|
6,000 |
|
Specific provisions to be made |
|||||
|
NAN LTY |
5,000 |
|
|
|
5,000 |
|
DAT LTD |
5,000 |
|
5,000 |
|
|
- A 10% general provision should be made on all outstanding balances.
- Balance on the provision for
bad debts accounts as at 1/1/2013 was GH¢15,000
Required
i) Determine the Provision for Bad Debts to be charged to the
ii). Prepare the
current assets as at 31/12/2013.
iii). Prepare the Debtors age analysis schedule after the adjustments.
Step by step
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