Question: Answer the Questions step by step based on the pictures given below. Thank you QUESTION 1. Show the ledger accounts, including the financial statement (extracts),

Answer the Questions step by step based on the pictures given below. Thank you

QUESTION

1. Show the ledger accounts, including the financial statement (extracts), for each of the above items and the balances carried down to 2022.

Question: Accruals and Prepayments The financial year of Smith ended on 31st December 2021. The following transactions were in his books: (a) Motor Expenses: Paid in 2021 RM1,400. Owing on 31st December 2021 RM800. (b) Insurance: Paid in 2021 RM1,700. Prepaid on 31st December 2021 RM130. (c) Computer Supplies: Paid during 2021 RM900. Owing on 31st December 2020 RM300. Owing on 31st December 2021 RM400. (d) Business Rates. Paid during 2021 RM5,600. Prepaid on 31st December 2020 RM580. Prepaid on 31st December 2021 RM560

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