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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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