Accounting X Onn. In the UK the area of tangible fixed assets is covered by FRS 15, Tangible Fixed Assets, with IAS 16, Property, plant Additional information: 1. Account receivables include irrecoverable debts of $160,000, which is to be written off. An allowance for receivables should then be created, representing 4% of the account receivables which remain after the irrecoverable debt has been written off. 2. Corporation tax for the year to 30 June 2019 was over-provided by $120,000. A provision for corporation tax for the year ended 30 June 2020 of $600,000 is required. 3. The company’s depreciation policy is as follows: MDIST AY2020/21 Sem 1 | UOS Y3 | APC 316 International Financial Reporting (Professional) |

Answer rating: 100% (QA)

For the year ending 30 June 2020 Don Ltd reports a net profit after tax of 61 million At the beginni... View the full answer