ACY(case_study)-min

A sales invoice of 596250FCFa for good “B” has been issued and
recorded, but the corresponding goods are still to be supplied to
customers.
Electricity bill for the month of December has not been received, but the
meter reads 62010FCFA (VAT inclusive).
An annual insurance premium to run from the first of October 2009 to
the 30 th September 2010 was paid on 1 st October 2009.
The business provides warranty for goods sold. This year goods worth
50,000,000FCFA have been sold and 1,000,000 have already been spent
for replacing goods returned with complaints. The estimate for possible
replacements is 5% of sales.
Rebates and bonuses for some customers have not been given.
The total sales for these customers amounted to 55,000,000FCFA.
Rebate is 2% of sales and bonus is 10FCFA for every 1000FCFA
bought.
Work Required
1) a) Determne the debt and rate of provision for EBOT as at
31/12/2008
b) Prepare the statement of doubtful customers as at 31/12/2009
c) Shoe the journal entries.
2) a) prepare the statement of assessment of the marketable securities
as at 31/12/2009
b) Show the journal entries for provision related to the marketable
security
SECTION C: PUBLIC SECTOR ACCOUNTING
EXERCISE 1