Calculate the allowance ratio for the year ending 30 June 2020 . Assume the number of days in the year is 365. Round the percentage

Calculate the allowance ratio for the year ending 30 June 2020 . Assume the number of days in the year is 365. Round the percentage change to one decimal place Transcribed Image Text: Current Liabilities
Accounts Payable
Loan Payable – Short Term
Unearned Revenue
Total Current Liabilities
220,531
340,000
10,000
17,579
10,329
367,579
230,860
Non-current Liabilities
Loan Payable – Long Term
Mortgage
33,000
7,000
2,000
Total Non-current Liabilities
40,000
2,000
TOTAL LIABILITIES
407,579
232,860
Shareholders’ Equity
Contributed Capital
Retained Earnings
Total Shareholders’ Equity
20,000
6,424
20,000
68,873
26,424
88,873
TOTAL LIABILITIES &
434,003
321,733
SHAREHOLDERS’ EQUITY Transcribed Image Text: Kristina’s Consulting Business
Comparative Balance Sheets
As at 30/06/2020
As at 30/06/2019
Current assets
Cash
122,536
80,145
Accounts receivable (gross)
183,692
(21,200)
96,411
(5,200)
Allowance for bad debts
Net accounts receivable
Inventory
Supplies
Prepaid Rent
162,492
11,675
91,211
5,167
300
210
3,000
3,000
Total Current Assets
300,003
179,733
Non-current Assets
Equipment
Less Accumulated Depreciation
150,000
(16,000)
150,000
(8,000)
Total Non-current Assets
134,000
142,000
TOTAL ASSETS
434.003
321.733

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