Thanos, the
gem collector currently looking to reconcile his accounts receivables figures
for the month ending 30th September 2018. He is chasing the
individuals who owed him for the past 3 months. Below is the list of the
receivables;
No
|
Name
|
Amount
|
1
|
Iron Man
|
18,600
|
2
|
Thor
|
9,320
|
3
|
Captain America
|
10,400
|
4
|
Black Panther
|
25,000
|
5
|
Vision
|
4,750
|
6
|
Dr Strange
|
200
|
7
|
Hulk
|
13,830
|
8
|
Black Widow
|
3,900
|
9
|
Loki
|
7,700
|
10
|
Gamora
|
3,100
|
Below are
the transaction occurred in the month of September 2018;
1) Iron Man made a cash payment of
RM2,600 and a further cash purchase of RM1,600.
2) Thor made a purchase return back to
Thanos amounting RM1,320. He also made a settlement by cheque for RM2,000.
3) Captain America thought he is so
cocky, he did nothing at all.
4) Black Panther resigned from being a
King due to a scandal. He settled his account by cheque amounting RM20,000
after Thanos granted a discount of RM5,000. He may now live Wakanda forever and
ever.
5) Afraid of losing his head to Thanos,
Vision paid RM4,000 by cheque to Thanos. Unfortunately, the cheque was
dishonoured and Vision was nowhere to be found.
6) Dr Strange paid RM20 cash because he
made a deal to settle by instalment.
7) Hulk made a credit purchase from
Thanos for RM2,170. He also made a payment by cheque for RM5,000.
8) Someone paid for Black Widow all the
amount outstanding, the Avengers think that somebody had a crush on her.
9) Loki died, Thanos killed him before
knowing that Thor had made some payment on behalf of Loki by cheque for RM5,700.
10) Since Gamora is the daughter of
Thanos, she received a special discount of 90%. She took the offer.
11) Boboiboy who was kicked out from the
Avengers team suddenly appeared. He wanted to settle his debt amounting RM1,000
he made 3 years ago. He paid by cheque.
Thanos is now thinking to kill Captain America........
What do you think?
Required;
a)
Journal
entries for all transactions above.
b)
Thanos
set 5% provision for doubtful debt for the month of September. What will be the
reporting figure for the accounts receivables for the month.
c)
Extract
of SOCI and SOFP ending September 2018.
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