Trade Receivables Impairment Loss Calculation Simulation - Understand how variables affect financial statements
Given Trade receivables:
$10,000
Given Allowance for impairment of trade receivables:
$500
Amount confirmed uncollectible:
$0
$100
$200
$300
$400
$500
$600
$700
Percentage estimated uncollectible:
1%
2%
3%
4%
5%
Show workings
Statement of Financial Performance
Less: Other Expenses
Impairment loss on trade receivables
$0
Statement of Financial Position
Current Assets
Trade receivables
$10,000
Less: Allowance for impairment of trade receivables
($500)
Net trade receivables
$9,500