Answer to Question #215998 in Marketing for iamqx

Question

Hikmat Trading year ended on 30 June 2008. Prepare the ledger accounts, showing the

transfers to the financial statements and the balances carried down to the next year:

(a)  30 June 2008 Stationery: Paid for the year to 30 June 2008 RM 240; Stocks of stationery at 30 June 2007 RM 60; at 30 June 2008 RM 95.

(b)  General expenses: Paid for the year to 30 June 2008 RM 470; Owing at 30 June 2007 RM 32; Owing at 30 June 2008 RM 60.

(c)  Rent and business rates (combined account): Paid in the year to 30 June 2008 RM 5,410; Rent owing at 30 June 2007 RM 220; Rent paid in advance at 30 June 2008 RM 370; Business rates owing 30 June 2007 RM 191; Business rates owing 30 June 2008 RM 393.

(d)  Motor expenses: Paid in the year to 30 June 2008 RM 1,410; Owing as at 30 June 2007 RM 92; Owing as at 30 June 2008 RM 67.

(e)  Hikmat earns commission from the sales of one item. Received for the year to 30 June 2008 RM 1,100; Owing at 30 June 2007 RM 50; owing at RM 82.

 

Answer 1

LADDER ACCOUNT FOR 30 JUNE 2008