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    h123's Avatar
    h123 Posts: 1, Reputation: 1
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    #1

    Nov 27, 2006, 05:20 AM
    Accounting questions
    Hey guys I have few question I need help its all about accounting and am taking it for the first time so..
    Explain the nature of trade debtors?
    Explain the nature of and the accounting for bad debts?
    Explain the various controls used by firms to reduce the risk of bad debts?
    Explain the nature of and the accounting for provision for doubtful debts?
    I will highly appreciate it ! Thanks a lot :)
    vini0104's Avatar
    vini0104 Posts: 1, Reputation: 1
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    #2

    Dec 13, 2009, 07:11 AM

    The following is the Balance sheet of X LTD as on 31/12/2009

    10000, 8% redeemable Fixed assets 400000
    preferance shares of 100000
    Rs10 each fully paid Investments 100000

    20000, 7% redeemabl
    preferance shares of 100000 Stock 40000
    Rs10 each,Rs5per Debtors 60000
    share paid up Bank 200000

    20000 equity shares
    of Rs10 each fully paid 200000

    share premium 80000
    general reserve 60000
    capital reserve 70000
    profit & loss 90000
    current liabilities 100000
    On 1/4/08 redeemed preferance shares @ premium of 10%.In order to pay it investments sold @ 95000.sixty shares could not be traced.On 1/5/08 the company issued fully paid bonus sharesof 1 for every share held on that date.Give journal entries & prepare balance sheet
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