The balances on certain accounts of Foster Hardware Co. as at 1 April 20X3 were: Required Post
Question:
The balances on certain accounts of Foster Hardware Co. as at 1 April 20X3 were:
Required
Post and balance the appropriate accounts for the year ended 31 March 20X4, deriving the transfer entries to the statement of profit and loss where applicable.
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2,200 1,940 625 10,540 4,720 Rent and rotes payable accruals -prepayments Rent receivable prepayments Vehicles (at cost) Provision for depreciction of vehides During the financial year the business paid rent by cheque paid rates by cheque received cheque for rent of sublet premises traded in vehicle original cost 5,200 3,050 960 4,710 3,080 1,100 5,280 - accumulated deprecation port exchange allowance poid balance of price of new vehicle by cheque Closing balances as at 31 March 20X4 were Rent and rotes payable-accruals 2,370 1,880 680 to be derived 3,890 -prepayments ent receivable prepayments Vehicles (at cost) Provision for depreciotion of vehides
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Workings Loss on sale of vehicle 4710 3080 1100 530 Rent rates payable 20X3 20X3 Apl 1 Prepayment bd ...View the full answer
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Related Book For
Introduction To Financial Accounting
ISBN: 978-0077138448
7th edition
Authors: Anne Marie Ward, Andrew Thomas
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