Question

23.6X J. Persad's year ended on 30 June 2004. Write up the ledger accounts, showing the

transfers to the final accounts and the balances carried down to the next year for the following.
(a) Stationery: paid for the year to 30 June 2004, $855; stocks of stationery at 30 June
2003, $290; at 30 June 2004, $345.
(b) General expenses: paid for the year to 30 June 2004, $590; owing at 30 June 2003,
$64; owing at 30 June 2004, $90.
(c) Rent and rates (combined account): paid in the year to 30 June 2004, $3,890; rent
owing at 30 June 2003, $160; rent paid in advance at 30 June 2004, $250; rates
owing 30 June 2003, $205; rates owing 30 June 2004, $360.
(d) Motor expenses: paid in the year to 30 June 2004, $4,750; owing as at 30 June 2003,
$180; owing as at 30 June 2004, $375.
(e) Persad earns commission from the sales of one item. Received for the year to 30
June 2004, $850; owing at 30 June 2003, $80; owing at 30 June 2004, $145.
$150

Answer 1

To write up the ledger accounts for J. Persad, we need to calculate and record the transactions for each account. Here are the ledger accounts for stationery, general expenses, rent and rates, motor expenses, and commission, along with the balances carried down to the next year.

Step-by-step explanation:

The ledger accounts for J. Persad can be written up as follows:

(a) Stationery:

Dr. Stationery $855

Cr. Bank $855

Dr. Stock of Stationery (30 June 2004) $345

Cr. Stationery $345

Balance carried down to next year:

Stationery $290

(b) General expenses:

Dr. General Expenses $590

Cr. Bank $590

Owing at 30 June 2004: $90

(c) Rent and rates:

Dr. Rent & Rates $3,890

Cr. Bank $3,890

Owing at 30 June 2004: Rent $250, Rates $360

(d) Motor expenses:

Dr. Motor Expenses $4,750

Cr. Bank $4,750

Owing at 30 June 2004: $375

(e) Commission:

Dr. Commission Receivable $850

Cr. Bank $850

Owing at 30 June 2004: $145

The balances carried down to the next year are as follows:

Stationery $290

General expenses $90 (owing)

Rent $160 (owing) and $250 (paid in advance)

Rates $205 (owing) and $360 (owing)

Motor expenses $180 (owing) and $375 (owing)

Commission $80 (owing) and $145 (owing)