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1 crown ltd is currently in the process of finalising their financial statements for the...

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Accounting

1 Crown Ltd is currently in the process of finalising their financial statements for the year ended 31 December 2021. The following events occurred between 1 January 2022 and 28 February 2022, the date the financial statements were authorised for issue. 1. A trade receivable that owed Crown ltd 90,000 at 31 December 2021 was in financial difficulties at 31 December 2021 and Crown Ltd included a doubtful debt of 30,000 against this account. In January 2022, the receivables lawyers announced that it would be paying 50% of all its debts. 2. A trade receivable that owed Crown Ltd 150,000 at 31 December 2021 had a protracted labour strike at their factory in December 2021. As a result, this

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