1

Q8

Help material for Homework questions from ACCG 41

ACCG43
Motor expenses

20X6
20X6
Dec 31
paid
819 Dec 31
Dec 31
P&L expense
772

31
owing to Bal.c/d94
c/d 68
913

20X6
P&L expense

Insurance Expense
913

20X6
Dec 31
paid

913

840
31

840

Stationery Expense

20X6
20X6
20X6
Dec 31
paid
370 Jan 1 Bal. b/d
110
P&L expense
1674

31
owing Bal. c/d
245 Dec31P&L expense
31 prepaid
c/d 120
615
615

Rent income

prepaid
840

Business rates Expense

20X6
Jan 1 Bal. b/d
505

Dec 31

140
Paid

Dec 31

1654

1794

1794

NOTE: All the other questions, you

should try

20X6
20X6
for
Jan 1 Bal. b/d
175 Dec 31

31
P&L income
1410

doing by yourself. These two answers are just

received
1400
31
owing Bal. c/d

example and help.

185

is the

balancing amount calculated by

1585

Q9

Balancing the T-account

1585

Business rates

20X8
20X8
20X8
Jan1 Bal. b/d
210 Dec 31
P&L expense
Dec 31
cash
63
Dec31
Paid
1920
31
prepaid
*
31 cl. Stock c/d 690
2130
2130
31
expense
3379
(* 1920 X 3/12 is the part of rent expense belonging to the
4132
next year but paid now during this year.)

Packing material

20X8
1650 Jan 1 Bal. b/d

740

480 * Dec 31

Paid

3150

owing to

242

31

P&L

4132

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1
Q8

Help material for Homework questions from ACCG 41

ACCG43
Motor expenses

20X6
20X6
Dec 31
paid
819 Dec 31
Dec 31
P&L expense
772

31
owing to Bal.c/d94
c/d 68
913

Stationery Expense

20X6
P&L expense

Insurance Expense
913

20X6
Dec 31
paid

913

20X6
20X6
20X6
Dec 31
paid
370 Jan 1 Bal. b/d
110
P&L expense
1674

31
owing Bal. c/d
245 Dec31P&L expense
31 prepaid
c/d 120
615
615

840
31

840

prepaid
840

Business rates Expense

20X6
Jan 1 Bal. b/d
505

Dec 31
1794

140
Paid

Dec 31

1654
1794

Help material for Homework questions from ACCG 41

ACCG43
Rent income

NOTE: All the other questions, you

should try

20X6
20X6
for
Jan 1 Bal. b/d
175 Dec 31

31
P&L income
1410

doing by yourself. These two answers are just

received
1400
31
owing Bal. c/d

example and help.

185

is the

balancing amount calculated by

1585

Q9

Business rates

1585

20X8
20X8
20X8
Jan1 Bal. b/d
210 Dec 31
P&L expense
Dec 31
cash
63
Dec31
Paid
1920
31
prepaid
*
31 cl. Stock c/d 690
2130
2130
31
expense
3379
(* 1920 X 3/12 is the part of rent expense belonging to the
4132
next year but paid now during this year.)

Balancing the T-account

Packing material

20X8
1650 Jan 1 Bal. b/d

740

480 * Dec 31

Paid

3150

owing to

242

31

P&L

4132

Q8

Profit and loss account for the year ended 31 December 20X6 (extract)
$$
Gross profit b/d
$$
Less expenses
Add other income
Motor expenses
913
Rents
1410
Insurance
772
Stationery
505
Business Rates
1674
Balance sheet as at 31 December 20X6 (extract)
Current assets
Current liabilities
s
Prepaid expenses (prepayments)
188
accrued expenses (accruals)
339
(Insurance 68 + business rates 120 )
(motor expense 94 + stationery 245 )
Accrued income
1410
(Rent 185)
Q9

Profit and loss account for the year ended 31 December 20X6 (extract)
$$
Gross profit b/d
$$
Less expenses
Add other income
Packaging /packing
3379
Business Rates
1650
Balance sheet as at 31 December 20X6 (extract)
Current assets
Current liabilities
s
Prepaid expenses (prepayments)
480
accrued expenses (accruals)
(business rates 480 )
(packing material 245 )

2
Q8

Help material for Homework questions from ACCG 41

ACCG43
Profit and loss account for the year ended 31 December 20X6 (extract)
$$
Gross profit b/d
$$

242

Help material for Homework questions from ACCG 41

ACCG43

Less expenses

Add other income

Motor expenses
913
Rents
1410
Insurance
772
Stationery
505
Business Rates
1674
Balance sheet as at 31 December 20X6 (extract)
Current assets
Current liabilities
s
Prepaid expenses (prepayments)
188
accrued expenses (accruals)
339
(Insurance 68 + business rates 120 )
(motor expense 94 + stationery 245 )
Accrued income
1410
(Rent 185)
Q9

Profit and loss account for the year ended 31 December 20X6 (extract)
$$
Gross profit b/d
$$
Less expenses
Add other income
Packaging /packing
3379
Business Rates
1650
Balance sheet as at 31 December 20X6 (extract)
Current assets
Current liabilities
s
Prepaid expenses (prepayments)
480
accrued expenses (accruals)
(business rates 480 )
(packing material 245 )

242