before write-off. (Write-off of the year was P20,000) No.2: P5,000 from accounts written off in a year which had a net loss before write-off of P36,
before write-off. (Write-off of the year was P20,000) No.2: P5,000 from accounts written off in a year which had a net loss before write-off of P36,
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 27P
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Question
Recovery of
No.1: P20,000 from accounts written off in a year which had a net income of
P200,000 before write-off. (Write-off of the year was P20,000)
No.2: P5,000 from accounts written off in a year which had a net loss before
write-off of P36,000. (Write-off for the year was P5,000)
No.3: P10,000 from accounts written off in a year which had a net income of
P8,000 before write-off. (Write-off for the year was P8,000)
The income from the bad debt recovery is:
a. P35,000
b. P20,000
c. P26,000
d. P30,000
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