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.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement

Section: Chapter Questions

Problem 20P

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