The Trial balance will show only the Opening Stock & Purchase for any given period, but for Profit and loss, we have to calucate the Opening + Purchase – Closing stock ?
1 Accounting General 1904
Question { 2133 }
the following information wads extracted ffrom the book of a business man :debtors as on 31/12/1987 $25000 bad debts during 1987 $1000.provision for doubtful debts is to be maintained at 5%. a provision for discount is also at 2%. you are required to calculate the amount set aside in respect of provision for doubtful debts and provision for discounts on debtors respectively
Answer
Is This Answer Correct ? | 0 Yes | 1 No |
Question { 1904 }
The Trial balance will show only the Opening Stock & Purchase for any given period, but for Profit and loss, we have to calucate the Opening + Purchase – Closing stock ?
Answer
Is This Answer Correct ? | 0 Yes | 0 No |