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Snippet #51 Bad Debts Adjustment and Provisions for Bad Debts & Discount
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At the end date of the accounting year, a debtor may declare insolvency, resulting in bad debts for our firm and the need to learn the bad debts adjustment.
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Snippet #52 Loss by Fire and other Goods Adjustments
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There are several items that appear as adjustments to the Purchases figure on the last day, the first we discuss in this series of adjustments is Loss by Fire.
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Snippet #53 Manager’s Commission, Deferred Expenditure and Interest on Capital & Drawings
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Today will be the last discussion we have in our series of adjustments. Let us begin with an adjustment called manager’s commission.