Year 10 - Accounts - 22.10.13

Thai Sikh International School

E-Learning Programme – Online Assignment –  22/10/2013

Name:                                                                                     Subject:  Accounting

Year   :  10 A/B                                                                      Week No. :  03                                  

1. Gunn’s financial year ends on 31 December.                                                            

During the year ended 31 December 2004 he wrote off bad debts totaling

 $ 1900.

          On 31 December his debtors owed $ 50000. He decided to create a provision for doubtful debts of 8% of the debtors.

A)  Prepare a relevant extract from Gunn’s profit & loss account for the year ended 31 December 2004.

B)    Prepare a relevant extract from Gunn’s balance sheet at 31 December 2004.

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