William's trial balance at 30 September 20X5 includes the following balances：
Trade receivables??????????????????????? ?$75,943
Receivables allowance???????????????? ?$4,751
How should these balances be reported in William's statement of financial position as at 30 September 20X5?
The receivables allowance is deducted from trade receivables and the net figure of $71,192 ($75,943 - $4,751) is reported in the statement of financial position.
多做幾道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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