At 30 June 2014 a company’s allowance for receivables was USD39,000. At 30 June 2015 trade receivables totalled USD517,000. It was decided to write off debts totalling USD37,000 and to adjust the allowance for receivables to the equivalent of 5% of the trade receivables based on past events.What figure should appear in profit or loss for these items?
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4 .At 1 July 2014 a company had a loss allowance for receivables of USD83,000.During the year ended 30 June 2015 debts totalling USD146,000 were written off. At 30 June 2015 it was decided that USD218,000 was required as a receivables allowance.What is the total amount that should appear in profit or loss for the year ended 30 June 2015 for irrecoverable debts?
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A Profit or loss USD8,200; Statement of financial position USD807,800 B Profit or loss USD7,550; Statement of financial position USD808,450 C Profit or loss USD18,450; Statement of financial position USD808,450 D Profit or loss USD55,550; Statement of financial position USD808,450
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A USD1,800 B USD2,250 C USD9,000 D USD12,000
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