The draft profit for a business was $64 000 before the following information was taken into account. • An allowance for irrecoverable debts was maintained at 2% of trade receivables. The total of trade receivables was $150 000 at the beginning of the period and $220 000 at the end of the period. • On the last day of the period $4000 was recovered from a trade receivable that had been written off as irrecoverable. What is the revised profit for the period?

The following balances related to Ladha's business. At 31 March 2016: total assets $388000, total liabilities $84000…

A trial balance showed a provision for doubtful debts as $1350. Trade receivables were $50320 which included a debt o…

A business provides the following information. Revenue $140000; opening inventory $22000; closing inventory $24500; …

The trial balance totals are as follows: debit $500 150 credit $500 000 Which error could have caused the difference?

The statement of the financial position of a company shows the following: $ tangible non-current assets 20 600 intang…

A computer used for demonstration to customers was treated as capital expenditure. At the end of the year a customer …