help in accounting paper 3 plz

[saiki]

1. a bad debt that was previouly written off is now re-instated -> increase bad debt recovered by 50 -> cr 50 in bad debt recov
2. if bad debt is recovered then ur debtors increase, hence dr wlee 50
3. error that they debited bad debt -> so undo it -> credit bad debt 50
4. they recieved 50 -> assets go up -> cash dr 50
5. if debtor pays, u credit his a/c -> cr wlee 50 BUT This is alredi done!

[AL*Eagle]

I would really appreciate If  nyone can help me solveing question 1 a) in P3 accounting June04..
I got the answer, but I don't understand how did we get the figure "$258"??
plzz ppl pleeeeeez??

[IGCSE hater!]

to AL*Eagle...
luk...the insurance is an expense rite?! so u shud noe the layout for the account wen it cums to accrued and prepaid..
u hve the prepaid b/d....60...so v debit tht as bal b/d...thn they sed paid insurance...meanin thts bank...so v debit bank by 264....now thz account if for the year till 31 march 2004...but the dude paid 264 till june 30 2004....tht means he paid 3 months xtra....so thts prepaid...so 3/12 multiplied by 264...thts ur prepard c/d which goes to ur crdit side...thn the difference will b ur p&l..

[IGCSE hater!]

neone else need help!? feel free to ask...

[intruder]

Why in M/J 2006 Q3 the amount 65 is regarded as an asset if the difference is on the credit side? Shouldn't it be an overdraft?

[AL*Eagle]

to AL*Eagle...
luk...the insurance is an expense rite?! so u shud noe the layout for the account wen it cums to accrued and prepaid..
u hve the prepaid b/d....60...so v debit tht as bal b/d...thn they sed paid insurance...meanin thts bank...so v debit bank by 264....now thz account if for the year till 31 march 2004...but the dude paid 264 till june 30 2004....tht means he paid 3 months xtra....so thts prepaid...so 3/12 multiplied by 264...thts ur prepard c/d which goes to ur crdit side...thn the difference will b ur p&l..

thank u very much dude!!

+REP!!