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Numbers practice questions

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Numbers practice questions

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
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  • November 24, 2015 at 7:19 am #284831
    Miguel
    Member
    • Topics: 38
    • Replies: 30
    • ☆☆

    Good morning Mike,

    I have a question regarding the answers:Why is it deducted 5750 from the receivables and why in W5 as well is deducted the solicitor’s fees capitalized?

    Cheers!

    November 24, 2015 at 12:41 pm #284892
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22705
    • ☆☆☆☆☆

    $5,750 is the balance on the provision for doubtful debts account (allowance for receivables account) according to the trial balance

    The solicitor’s fees have been capitalized so it was necessary to remove them from the trial balance figure of Financial, legal and professional expenses amounting to $54,100

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