Financial Accounting Assignment - University Name, Semester Details

This financial accounting assignment solution addresses two key questions. Question 1 focuses on receivables, requiring the preparation of a receivables control account, bad debt expense account, provision for bad debts account, and a statement of financial position extract. It involves analyzing transactions from November and December 2019 for Clifford Limited, including cash and credit sales, sales returns, discounts, and bad debts. Question 2 explores capital and revenue expenditure, asking for examples and differentiation. It then provides a depreciation analysis for E. Walsh's delivery vans, including the preparation of T-accounts for delivery vans at cost, accumulated depreciation, and the disposal of a van, using both straight-line and reducing balance depreciation methods. The solution demonstrates accounting principles and practices in a clear and detailed manner.