Use the following information to answer the given question
\(\begin{array}{c|c} \text{1/1/06 Debtors} & D2,600\\ \text{1/1/06 Provision for bad debts} & D60\\ \text{31/12/06 New provision provision for bad debts} & \text{5% on debtors}\end{array}\)
The provision for bad debts in the profit and loss account is
Sales was D12,500, total expenses was D2,500 and net profit is 10% of sales what is the gross profit?
net profit = 0.1 x 12500 = 1250
gross profit = sales - cogs
net profit = gross profit - expenses
1250 + 2500
Which of the following is the equivalent of the receipts payment accounts?
Subscriptions received in advance are
Where records maintained are inadequate to facilitate the preparation of a trading and profit and loss accounts, this is described as
