Homework Answers
The entry for estimation of bad debt is as follows:
| Bad debt expense Dr (impacting net income) | 21,022 | |
| To Provision for bad debts (impacting debtors ie assets) | 21,022 | |
Return on assets = net income/average total assets
Ie, = (142,949-21,022)/(536371+(703089-21022))/2 = 0.2014
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