Accounts - Principles of Accounts Past Questions and Answers

Which of the following is found in the general ledger?

Use the following information to answer the given question<br/>\(\begin{array}{c|c} \text{1/1/06 Debtors} & D2,600\\ \text{1/1/06 Provision for bad debts} & D60\\ \text{31/12/06 New provision provision for bad debts} & \text{5% on debtors}\end{array}\)<br/>What is the amount of the new provision for bad debts?

Use the following information to answer the given question<br/>\(\begin{array}{c|c} \text{1/1/06 Debtors} & D2,600\\ \text{1/1/06 Provision for bad debts} & D60\\ \text{31/12/06 New provision provision for bad debts} & \text{5% on debtors}\end{array}\)<br/>The provision for bad debts in the profit and loss account is

Sales was D12,500, total expenses was D2,500 and net profit is 10% of sales what is the gross profit?<br/>net profit = 0.1 x 12500 = 1250<br/>gross profit = sales - cogs<br/>net profit = gross profit - expenses<br/>1250 + 2500

Which of the following is the equivalent of the receipts payment accounts?