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Use the following information to answer the given question \(\begin{array}{c|c} \text{1/1/06 Debtors} & D2,600\\ \text{1/1/06...

Accounts - Principles of Accounts
WAEC 2010

Use the following information to answer the given question
\(\begin{array}{c|c} \text{1/1/06 Debtors} & D2,600\\ \text{1/1/06 Provision for bad debts} & D60\\ \text{31/12/06 New provision provision for bad debts} & \text{5% on debtors}\end{array}\)
What is the amount of the new provision for bad debts?

  • A. D130
  • B. D127
  • C. D124
  • D. D120
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Correct Answer: Option A
Explanation

5% x 2600

\(\frac{5}{100}\) x 2600 = 130

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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