please include calculation for bad debt write off

include figure for debit write off

The webwerX 300 W COD 2:30 23 2007 7 Avec LAM Docs verminderen Land Neilding undering and Marcos Want and Machinery depreciation at 1 August 2016 Mwe Motor in den lett re Tracker Traderatie pri to get so 28 Barat Orch hr 15.30 22 Se LA LO 20 wer 20 HOWTIMA 3 we m.0003 wewe bewegen.com www.www.www. where Het gaat om wwwwwww www.008 AF 3 000 000 000 > 100 CR E'000 6,219 23 985 478 905 278 495 34 The trial balance for X plc at 31/07X9 is as follows: DR E'000 Revenue Purchases 2,287 Sales returns 58 Purchase returns Administrative costs 1,856 Distribution costs 694 Interest on bank loan paid 39 Interim dividend declared and paid 180 Land at cost 1,900 Buildings at cost 3,400 Buildings depreciation (at 1 August 20x8) Plant and Machinery at cost 1.560 Plant and Machinery depreciation (at 1 August 20x8) Motor vehicles at cost Motor vehicles depreciation (at 1 August 20x8) Trade payables Trade receivables 1,690 Trade receivables provision Inventory (at 1 August 20x8) 508 Bank 265 Bank loan (to be repaid 30 June 20Y5) 1,300 Ordinary shares of 1 each 1.800 Share premium 1,500 Retained earnings (at 1 August 20x8) 2.230 15,342 15,342 Notes to the Trial Balance 1. Depreciation is to be charged on the following basis: a. Buildings - 25 years straight line b. Plant and machinery - 10 years straight line C. Motor vehicles - 25% reducing balance All depreciation is charged to administrative costs. 2. Year end inventory is valued at 548,000. However it has been discovered that there are 3,000 items included within year end inventory which have been damaged. These items cost 45 but will require repair work costing 29 per item in order to be saleable for 65. 3. Administrative costs include a payment of 269,000 for premises insurance, which covered the period 1 January 2009 to 31 December 20X9. 4. Trade receivables includes some debts which are now irrecoverable, amounting to 33,000, and therefore X plc wishes to write these debts off. The company also wishes to increase the general provision to 3% of receivables. 5. Interest on the bank loan is payable at 6% in half yearly instalments. X plc has not yet accounting for the second payment of interest on the loan. Requirement: Using the information provided, complete the profit or loss expenses working below. (Round all calculations to the nearest thousand.) W1 Profit or loss COS Admin. Distrib. Finance expenses '000 '000 000 '000 Purchases 2287 Purchase returns -23 Balances per TB 1856 694 39 Opening inventory 508 Closing inventory 608 Total depreciation 448.7 expense Prepayment Bad debt write off 0 Cost of receivables 49.71 provision Loan interest accrued 45.5 (Enter each value with no sign, comma or decimal places. Use a minus sign where appropriate.) 112