ASSIGNMENT 1. Helmuth owns a hardware store. His financial year ends 30 June. He provided the folowe information: His debtors on 1 July 2019 included N$700 owed by Gunter. On 30 June 2020 Gunter paid half of the amount owing in cash and the balance was written off as bad debt. On 15 January 2021 Gunter paid the outstanding amount in cash. REQUIRED (a) Make the appropriate entries for the financial year ending 30 June 2020 and 30 June 2021 in the following ledger accounts. The accounts should be balanced or closed off. (i) Gunter's Account [3 (ii) Bad Debts Account
ASSIGNMENT 1. Helmuth owns a hardware store. His financial year ends 30 June. He provided the folowe information: His debtors on 1 July 2019 included N$700 owed by Gunter. On 30 June 2020 Gunter paid half of the amount owing in cash and the balance was written off as bad debt. On 15 January 2021 Gunter paid the outstanding amount in cash. REQUIRED (a) Make the appropriate entries for the financial year ending 30 June 2020 and 30 June 2021 in the following ledger accounts. The accounts should be balanced or closed off. (i) Gunter's Account [3 (ii) Bad Debts Account
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 30CE: LO.2 In 2019, Chaya Corporation, an accrual basis, calendar year taxpayer, provided services to...
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Transcribed Image Text:ASSIGNMENT
Helmuth owns a hardware store. His financial year ends 30 June. He provided the follo
information:
1.
His debtors on 1 July 2019 included N$700 owed by Gunter.
On 30 June 2020 Gunter paid half of the amount owing in cash and the balance was written
off as bad debt.
On 15 January 2021 Gunter paid the outstanding amount in cash.
REQUIRED
(a) Make the appropriate entries for the financial year ending 30 June 2020 and 30 June
2021 in the following ledger accounts. The accounts should be balanced or closed off.
(i)
Gunter's Account
[3
(ii)
Bad Debts Account
[2
(iii)
Bad Debts Recovered Account
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