GREY:CVHIF - Post by User
Comment by
Xiawen13on Aug 07, 2016 8:10pm
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Post# 25118206
RE:RE:RE:Question about C C I Financial Statements Q1
RE:RE:RE:Question about C C I Financial Statements Q1The optimistic answer to that question is the following:
since Q1, bad debt doesnt show in the Revenu (for instance we had Q1 revenu of 8477$ - 1189$ =
7288$ Q1 revenu)
but in previous quarters they did includes bad debt in revenu, therfore they had to do the 947$ deduction in this quarter revenu even though this is bad debt from previous quarter.
apainter wrote: Inv22,
you are absouletly right. This is from the notes to FS. However, I am not sure but the current quarter provision should be 1189.00 but they have taken only 947 to the income statement
I am not sure why.
Accounts receivable | Accounts receivable, net | May 31, 2016 | February 29, 2016 |
| Gross receivables | $9,281 | $7,386 |
| Allowance for doubtful accounts (and disputed claims) | 2,136 | 947 |
| Balance, ending | $7,145 | $6,439 |
| Allowance for doubtful accounts & disputed claims | For the three months
ended May 31, 2016 | Year ended February 29,
2016 |
| Balance, beginning | 947 | - |
| Increase in provision | 1,189 | 947 |
| Balance, ending | $2,136 | $947 |