to the financial statements and the balances carried down to the next year for the following: (a) Stationery: Paid in the year to 30 June 2020 £240; Inventory of stationery at 30 June 2019 £60; at 30 June 2020 £95. (b) General expenses: Paid in the year to 30 June 2020 £470; Owing at 30 June 2019 £32; Owing at 30 June 2020 £60. (c) Rent and business rates (combined account): Paid in the year to 30 June 2020 £5,410; Rent owing at 30 June 2019 £220; Rent paid in advance at 30 June 2020 £370; Business rates owing 30 June 2019 £191; Business rates owing 30 June 2020 £393. (d) Motor expenses: Paid in the year to 30 June 2020 £1,410; Owing as at 30 June 2019 £92; Owing as at 30 June 2020 £67. (e) Hope earns commission from the sales of one item. Received in the year to 30 June 2020 £1,100; Owing at 30 June 2019 £50; Owing at 30 June 2020 £82.
to the financial statements and the balances carried down to the next year for the following: (a) Stationery: Paid in the year to 30 June 2020 £240; Inventory of stationery at 30 June 2019 £60; at 30 June 2020 £95. (b) General expenses: Paid in the year to 30 June 2020 £470; Owing at 30 June 2019 £32; Owing at 30 June 2020 £60. (c) Rent and business rates (combined account): Paid in the year to 30 June 2020 £5,410; Rent owing at 30 June 2019 £220; Rent paid in advance at 30 June 2020 £370; Business rates owing 30 June 2019 £191; Business rates owing 30 June 2020 £393. (d) Motor expenses: Paid in the year to 30 June 2020 £1,410; Owing as at 30 June 2019 £92; Owing as at 30 June 2020 £67. (e) Hope earns commission from the sales of one item. Received in the year to 30 June 2020 £1,100; Owing at 30 June 2019 £50; Owing at 30 June 2020 £82.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...
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Accruals question
![to the financial statements and the balances carried down to the next year for the following:
(a) Stationery: Paid in the year to 30 June 2020 £240; Inventory of stationery at 30 June 2019 £60;
at 30 June 2020 £95.
(b) General expenses: Paid in the year to 30 June 2020 £470; Owing at 30 June 2019 £32; Owing at
30 June 2020 £60.
(c) Rent and business rates (combined account): Paid in the year to 30 June 2020 £5,410; Rent owing
at 30 June 2019 £220; Rent paid in advance at 30 June 2020 £370; Business rates owing 30 June
2019 £191; Business rates owing 30 June 2020 £393.
(d) Motor expenses: Paid in the year to 30 June 2020 £1,410; Owing as at 30 June 2019 £92; Owing
as at 30 June 2020 £67.
(e) Hope earns commission from the sales of one item. Received in the year to 30 June 2020 £1,100;
Owing at 30 June 2019 £50; Owing at 30 June 2020 £82.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74cf2dd0-9d35-4848-bd1c-bd7f594b2855%2F131003bc-0702-4bfe-a1b2-f00048b18262%2F3sreod8_processed.png&w=3840&q=75)
Transcribed Image Text:to the financial statements and the balances carried down to the next year for the following:
(a) Stationery: Paid in the year to 30 June 2020 £240; Inventory of stationery at 30 June 2019 £60;
at 30 June 2020 £95.
(b) General expenses: Paid in the year to 30 June 2020 £470; Owing at 30 June 2019 £32; Owing at
30 June 2020 £60.
(c) Rent and business rates (combined account): Paid in the year to 30 June 2020 £5,410; Rent owing
at 30 June 2019 £220; Rent paid in advance at 30 June 2020 £370; Business rates owing 30 June
2019 £191; Business rates owing 30 June 2020 £393.
(d) Motor expenses: Paid in the year to 30 June 2020 £1,410; Owing as at 30 June 2019 £92; Owing
as at 30 June 2020 £67.
(e) Hope earns commission from the sales of one item. Received in the year to 30 June 2020 £1,100;
Owing at 30 June 2019 £50; Owing at 30 June 2020 £82.
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