Financial Statements Practice Assessment 1 - Task 1.2

Hello everyone,

Could someone please advise on task 1.2 on practice assessment 1 of the 2013 Financial Statements.

I am struggling with the Trade and Other Receivables calculation, this is what I get.

Trade Receivables - £12,447
Allowance for doubtful debts (£236)
Adjustment for doubtful debts - £47

This gives me an answer of £12,258

When I am checking back to the answers they are saying it's £12,294.

Could anyone please explain to me where I am going wrong!

Thank you


  • beckydownes1
    beckydownes1 Registered Posts: 8
    You have forgotten about the prepayment for insurance expenditure of £130 which is £156/12 x 10 = 130

    So it is then:
    Trade receivables - 12,447
    allowance for doubtful debts (283)
    Prepayment 130
    = £12,294
  • dnewton1989
    dnewton1989 Registered Posts: 5
    Thank you @beckydownes1

    Very much appreciated!
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