You decided to mn a small business. Total fixed asset 140,000 Total current asset 151220 Total...

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You decided to mn a small business. Total fixed asset 140,000 Total current asset 151220 Total current liability 14,040 Capital १० ००० Non current liability 45, 500 Transactions that occurred for the last 2 months Number of transactions must meet minumum requirement as follows (1) Expenses : 10 cash transactions, 5 accured transactions (11) Purchase of goods : 10 cash transactions, & credit transactions (11) Sales: 20 cash transactions, 10 credit transactions 1)Sales & purchase returns: 2 transactions each v) payment of loan : 2 transactions VI) At the end of two months • provide depreciation for each fixed asset • provide doubtful debt's 5% of outstanding deb fors You decided to mn a small business. Total fixed asset 140,000 Total current asset 151220 Total current liability 14,040 Capital १० ००० Non current liability 45, 500 Transactions that occurred for the last 2 months Number of transactions must meet minumum requirement as follows (1) Expenses : 10 cash transactions, 5 accured transactions (11) Purchase of goods : 10 cash transactions, & credit transactions (11) Sales: 20 cash transactions, 10 credit transactions 1)Sales & purchase returns: 2 transactions each v) payment of loan : 2 transactions VI) At the end of two months • provide depreciation for each fixed asset • provide doubtful debt's 5% of outstanding deb fors

Answer rating: 100% (QA)

1 Depreciation for Fixed Assets Since the total value of the fixed assets is 140000 the depreciati... View the full answer