At 30 June 20X5 a company’s allowance for receivables was $39,000. At 30 June 20X6 trade receivables totalled$517,000. It was decided to write off debts totalling $37,000 and to adjust the allowance for receivables to theequivalent of 5% of the trade receivables based on past events.What figure should appear in the income statement for the year ended 30 June 20X6 for receivables expense? A: $61,000 B: $52,000 C: $22,000 D: $37,000

At 31 December 20X2 a company's receivables totalled £400,000 and an allowance for receivables of £50,000 had been brought forward from the year ended 31 December 20X1. It was decided to write off debts totalling £38,000 and to adjust the allowance for receivables to 10% of the receivables.What charge for receivables expense should appear in the company's statement of profit or loss for the year ended 31 December 20X2? A: £74,200 B: £51,800 C: £28,000 D: £24,200

A) A Gold Coast-based working holiday company has agreed to pay back thousands of dollars to young travelers after a Queensland Government investigation found what it believed were some unfair terms in the company’s contracts. Twenty-nine people who had signed up for assistance on their gap-year travels are receiving partial refunds (退款) from The Global Work and Travel Co. (Global), totalling $25,655. Global arranges travel and employment packages for 10,000 young people each year, primarily in Australia, UK, USA and Canada. B) In November 2014, a joint ABC and Canadian Broadcasting Corporation (CBC) investigation discovered dozens of angry customers, who accused Global of charging big mark-ups (增高标价), using high-pressure sales tactics, and making false promises about employment. The company, however, denied misleading consumers or marking up flights and said its customer satisfaction rate was between 97.5 and 99 per cent. C) The partial refunds, which range from approximately $200 to $1,500, come after a 13-month investigation by the Queensland Office of Fair Trading (OFT). OFT investigators raided the company’s headquarters in February 2015, seizing documents and computer files, and handed over the case to the OFT’s Major Investigations Unit. The director of tactical compliance (遵守，合规) for the OFT, Steve L’Barrow, said the office’s main concern was the terms and conditions in Global’s contracts. “Our view was that several of the terms were unfair under the Australian consumer law,” Mr L’Barrow told the ABC. “Our focus was to try and get The Global Work and Travel Co. to change those terms and correct the problems they’d actually caused by relying on those terms.” D) Mr L’Barrow said many of the young travellers the OFT investigators spoke to claimed they had felt pressured to sign up for expensive Global programs and some arrived in other countries to find the services they had paid for, such as assistance with setting up a bank account, were not comprehensive or helpful. Some customers complained after arriving for volunteer programs in Africa and Sri Lanka that did not exist. “I would describe the conduct of this company as unethical (不道德的) and indifferent (冷漠的),” Mr L’Barrow said. “They really didn’t care about what financial position they were putting the kids in and they didn’t care that their conduct was unfair. The young customers are bright kids but they’re not sophisticated consumers in terms of contractual obligations and negotiations, and our view was that the conduct of this company really took advantage of that.” E) The OFT began to negotiate with Global’s directors in mid-2015, after threatening to publicly name the company as a trader that posed an unacceptable risk to consumers. As part of the negotiations, Global agreed to appoint an independent compliance advisor to help the company review its business practices and complaint-handling procedures. “The company is doing the right thing now, we will give them the credit, but they were dragged all the way to do it,” Mr L’Barrow said. “In my opinion they were probably one of the most uncooperative companies that we’ve actually dealt with. We will keep them on our radar and if there is any significant surge in complaints again about their conduct they can certainly be assured we will be knocking on their door again.” F) The Global Work and Travel Co. issued a press release acknowledging that the company had been working with the OFT and had reached an agreement to make compensations and resolve complaints. “We admit — readily admit — that we are a very fast growing start-up company, and in that growth process, we have overlooked a few things and learned some valuable lessons along the way,” the company’s statement said. The statement confirmed that Global has sought external compliance advice. “Our aim is to ensure our clients are fully protected, and that we are not just following the letter, but also the spirit of the law,” the statement said. “And for that reason, we have voluntarily brought on board the services of an independent compliance advisor, to review all of our internal processes and make sure clients are treated fairly.” G) The 29 customers who are receiving partial refunds were notified by email from the OFT. Ingrid Micallef, 20, from Melbourne, has been refunded $1,500 after she paid $6,000 for an airfare and a three-month volunteering program in Kenya in 2014. “The program I signed up for wasn’t quite there, it didn’t really exist,” Ms Micallef said. “The school and the camp weren’t open, I was put in a host home about an hour away from the actual camp, there was no medical centre that they said there was, and there was no training they said there was. It was a big shock, and it was the first time I had travelled by myself as well, so it was really hard to be over there without support.” Ms Micallef ended up joining other volunteer programs. H) Glenn Anderson from the New South Wales Central Coast paid Global more than $5,000 for a package including flights and a job on arrival in Canada in 2012. Mr Anderson claims the company pushed him to travel to Vancouver prior to Christmas in 2012, but when he arrived there was no job for him and he had to make his own arrangements because the company shut its offices for the holidays. He has now been refunded his program fee of $595. He said that was “better than nothing I guess, but is still not near what we spent with them, so kind of a bit disappointing overall”. I) During the course of the OFT investigation, officers spoke to several of Global’s former employees, many of whom had blown the whistle about the company’s practices in November 2014. “I’m really glad that we all spoke out,” former sales person Louisa Canning said. “I’m glad that the customers are getting their money back. None of us wanted really to be working there at the end of the day and pushing people into buying things, so I’m delighted the customers have been able to get back what they deserve.” 请选择每句话所出自的段落 1. The working holiday company had their business practices reviewed by a third party and admitted their mistakes. 2. Some young inexperienced students were taken advantage of by the company when they were told to sign contracts that had problems. 3. Many people who had worked for the company exposed its dishonest practices and felt happy that the young customers got their money back. 4. Twenty-nine people were contacted by the OFT concerning partial refunds they could receive. 5. The OFT made an investigation for more than a year with a focus on the terms of the company’s contracts. 6. Despite some customers’ complaints, the company claimed that almost all of their customers were satisfied with their work and travel arrangements. 7. The company would not cooperate with the OFT until it was told that its name would appear on a warning list for the public. 8. One young customer paid the company for a job placement in Canada, but he didn’t have a job on his arrival. 9. The company makes money by making arrangements for young people to travel and work mainly in English-speaking countries. 10. An OFT director promised to continue checking on the company and take action against it if there is a significant increase in customers’ complaints again.