Accounting WAEC

New provision for bad debts to stand at 5% of debtors. The net figures for the profit is _______ in the balance sheet?

Use the following to answer the given question

N
Provision for bad debts 1,000Cr
Bad debts 500Dr
debtors 50,000Dr
Additional bad debts to be written off 500

 

A. N47,025
B. N46,550
C. N45,600
D. N45,500
E. N43,225

Correct Answer:

Option D – N45,500

Sunday

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

3 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

3 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

3 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

3 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

3 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

3 months ago