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11. The following extracts of Tim's financial statements are available: The gearing (debt to debt...

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Accounting

image 11. The following extracts of Tim's financial statements are available: The gearing (debt to debt plus equity) ratio of Tim will be: A. 15.8% B. 22.2% C. 8.3% D. 10.5% 12. James Plc's year end is 28 February 2022. In April 2022 a major customer went into liquidation and the directors believe that they will not be able to recover the 375,000 owed to them. How should this item be treated in the financial statements of James Plc for the year ended 28 February 2022? A. The 375,000 should be disclosed by note as an irrecoverable debt B. The financial statements are not affected at all. C. The financial statements should be adjusted to show the 375,000 as an irrecoverable debt. D. The financial statements for 2022 are not affected, but the balance should be written off in 2023

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