The following items appear in the balance sheet of Patel and Co. at 31 December 19X6:...

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The following items appear in the balance sheet of Patel and Co. at 31 December 19X6: Under current assets Debtors and prepayments Rates 200 Under current liabilities Creditors and accruals Rent Electricity Deferred revenue Interest receivable Payments Rent - covering the quarter ending During the year to 31 December 19X7 the following cash receipts and payments were recorded: 500 100 Receipts Interest - covering the 6 months from 1 April to 30 September 400 31 December 19X6 31 March 19X7 30 June 19X7 30 September 19X7 31 December 19X7 31 March 19X8 Electricity - covering the quarter ending 31 January 19X7 30 April 19X7 31 July 19X7 31 October 19X7 30 September 19X7 31 March 19X8 Rates - covering the 6 months ending 200 500 500 500 500 500 500 150 120 70 120 450 450 Show the revenues and expenses which would appear in the profit and loss account prepared for the year ended 31 December 19X7, and the extracts from the balance sheet as at 31 December 19X7 which relate to the above transactions. The following items appear in the balance sheet of Patel and Co. at 31 December 19X6: Under current assets Debtors and prepayments Rates 200 Under current liabilities Creditors and accruals Rent Electricity Deferred revenue Interest receivable Payments Rent - covering the quarter ending During the year to 31 December 19X7 the following cash receipts and payments were recorded: 500 100 Receipts Interest - covering the 6 months from 1 April to 30 September 400 31 December 19X6 31 March 19X7 30 June 19X7 30 September 19X7 31 December 19X7 31 March 19X8 Electricity - covering the quarter ending 31 January 19X7 30 April 19X7 31 July 19X7 31 October 19X7 30 September 19X7 31 March 19X8 Rates - covering the 6 months ending 200 500 500 500 500 500 500 150 120 70 120 450 450 Show the revenues and expenses which would appear in the profit and loss account prepared for the year ended 31 December 19X7, and the extracts from the balance sheet as at 31 December 19X7 which relate to the above transactions.

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