Allowance for Bad Debts – NBC Institute

BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

Question

What is the net amount of trade receivables recognised in the statement of financial position?
A. N1,110,000
B. N1,201,000
C. N1,210,300
D. N1,274,000
E. N1,300,000

Answer

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Tags: Allowance for Bad Debts, Financial Position, Trade receivables
Level: Level 1

Topic: Law of Contract
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

Question

What is the amount of allowance recognised in the statement of profit or loss?

A. N26,000
B. N63,700
C. N89,300
D. N89,700
E. N98,700

Answer

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Tags: Allowance for Bad Debts, Profit or Loss, Trade receivables
Level: Level 1

Topic: Law of Contract
Series: NOV 2019

FA – MAY 2015 – L1 – SA – Q16 – Accounting Treatment for Bad and Doubtful Debts

Calculate the amount of bad debts to be written back based on adjusted allowance.

Question

The following information relates to Pingway Enterprises as at 31 December 2013:
Allowance for bad debts brought forward N9,750
Accounts receivable N129,250
Bad debt to be written off N9,250

Allowances for bad debts should be adjusted to 5% of the accounts receivable balance.
What amount of allowance for bad debts would be written back in 2013 financial year?
A. N15,750
B. N9,750
C. N6,463
D. N6,000
E. N3,750

Answer

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Tags: Allowance for Bad Debts, Bad Debts, Receivables
Level: Level 1

Topic: Bad and Doubtful Debts
Series: MAY 2015

BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

Question

What is the net amount of trade receivables recognised in the statement of financial position?
A. N1,110,000
B. N1,201,000
C. N1,210,300
D. N1,274,000
E. N1,300,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Allowance for Bad Debts, Financial Position, Trade receivables
Level: Level 1

Topic: Law of Contract
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

Question

What is the amount of allowance recognised in the statement of profit or loss?

A. N26,000
B. N63,700
C. N89,300
D. N89,700
E. N98,700

Answer

Find Related Questions by Tags, levels, etc.

Tags: Allowance for Bad Debts, Profit or Loss, Trade receivables
Level: Level 1

Topic: Law of Contract
Series: NOV 2019

FA – MAY 2015 – L1 – SA – Q16 – Accounting Treatment for Bad and Doubtful Debts

Calculate the amount of bad debts to be written back based on adjusted allowance.

Question

The following information relates to Pingway Enterprises as at 31 December 2013:
Allowance for bad debts brought forward N9,750
Accounts receivable N129,250
Bad debt to be written off N9,250

Answer

Find Related Questions by Tags, levels, etc.

Tags: Allowance for Bad Debts, Bad Debts, Receivables
Level: Level 1

Topic: Bad and Doubtful Debts
Series: MAY 2015

Question Tag: Allowance for Bad Debts

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BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

FA – MAY 2015 – L1 – SA – Q16 – Accounting Treatment for Bad and Doubtful Debts

Calculate the amount of bad debts to be written back based on adjusted allowance.

BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

FA – MAY 2015 – L1 – SA – Q16 – Accounting Treatment for Bad and Doubtful Debts

Calculate the amount of bad debts to be written back based on adjusted allowance.

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BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

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BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

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FA – MAY 2015 – L1 – SA – Q16 – Accounting Treatment for Bad and Doubtful Debts

Calculate the amount of bad debts to be written back based on adjusted allowance.

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BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

You're reporting an error for "BL – Nov 2019 – L1 – SA – Q8 – Law of Contract"

BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

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FA – MAY 2015 – L1 – SA – Q16 – Accounting Treatment for Bad and Doubtful Debts

Calculate the amount of bad debts to be written back based on adjusted allowance.

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