Answer to Question #110231 in Accounting for Shermano

Question #110231
28.1 The financial year of T. Guiness ended on 31 December 2006. Show the ledger accounts
for the following items including the balance transferred to the necessary part of the
financial statements, also the balances carried down to 2007.
(a) Motor expenses: Paid in 2006 $819; Owing at 31 December 2006 $94
(b) Stationery: Paid during 2006 $370; Owing as at 31 December 2005 $110; Owing as at 31
December 2006 $245.

28.2 W. Hope’s year ended on 30 th June 2008. Write up the ledger accounts, showing the
transfers to the financial statements and the balances carried down to the next year for
the following:
(a) Stationery: Paid for the year to 30 th June 2008 $240; Inventory of stationery at 30 June
2007 $60; at 30 June 2008 $95
(b) General expenses: Paid for the year to 30 June 2008 $470; Owing at 30 June 2007 $32;
Owing at 30 June 2008 $60
(c ) Motor expenses: Paid in the year to 30 June 2008 $1410; Owing as at 30 June 2007 $92;
Owing as at 30 June 2008 $67.
1
Expert's answer
2020-04-21T19:01:47-0400

28.1

Account Motor expenses:

Debit Turnovers:819

Balance at the end 2006: 94

Balance to the beginning 2007: 94


Account Stationery:

Balance to the beginning 2005: 110

Debit Turnovers:370

Balance at the end 2006: 245

Balance to the beginning 2007: 245

28.2

Account Stationery:

Balance to the 30 June 2007: 60

Debit Turnovers:240

Balance at the 30 June 2008: 95

Balance to the 1 July: 95


Account General expenses:

Balance to the 30 June 2007: 32

Debit Turnovers:240

Balance at the 30 June 2008: 60

Balance to the 1 July: 60


Account Motor expenses:

Balance to the 30 June 2007: 92

Debit Turnovers:1410

Balance at the 30 June 2008: 67

Balance to the 1 July: 67


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