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Understood , thankyou sir
Payable is one form of liability , i thought liability is payable .
Sir, sales ledger is individual account but sales account is general ledger for total sales ?
*And if we are taking account*
11.11 At 1 January 20X1, there was an allowance for receivables of $3,000. During the year, $1,000 of debts were written off as irrecoverable, and $800 of debts previously written off were recovered. At
31 December 20X1, it was decided to adjust the allowance for receivables to 5% of receivables which
are $20,000.
What figure should be included in the statement of profit or loss as the receivables expense for the year?
$__________ DEBIT / CREDITSource Bpp
And Sir do not we calculate allowance after net offing irrecoverable debt ( 20,000- 1,000)?
but in bpp allowance is calculated as 20000*5% , i think it should be 19000*5% .Thankyou!
Sir , this question is in Kaplan kit of FMA
And below is section of study hubDirect Data Capture Costs
Direct data capture costs are the costs of getting the data into the system. Examples include:Use of and processing of data forms, either manually entered into a system, digitalised forms with pre-set fields, or automated through optical character recognition (OCR).
Use of machine-readable bar codes, QR codes, or RFID tags.
Artificial intelligence (AI) or algorithmic processing and codifying (adding associated tags) of non-standardised data captures, such as faces or physical items.
Other machines, workforce, and systems for large-scale data capture, such as measuring devices and associated systems, laboratory work , sensors on the manufacturing line, survey drones, etc.
Direct data capture costs are directly related to obtaining the required information.Sir , according to this looks like 900 should be included .
And the answer in Kaplan is 800.