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6 marksAccruals and Prepayments

CSEC Principles of Accounts · January 2016 · Paper 2 · Question 4(b)

Gargar Mell Company maintains separate accounts for Rent Expenses and Commission Revenue, with rent transactions and prepaid balances given for 2015.

Prepare the Rent Expenses Account for the year ended 31 December 2015.

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Other parts of this question

  1. 4(a)(i)Starting with the balance on 1 January 2013, prepare the Provision for Bad and Doubtful Debts Account for the two years ended 31 December 2014, showing dates…[7 marks]
  2. 4(a)(ii)Prepare a Balance Sheet extract for Gargar Mell Company for 2014 showing the effect of the provision on Accounts Receivable.[3 marks]
  3. 4(c)(i)State under which heading in the Balance Sheet of the previous year the $2 500 would have been recorded.[1 mark]
  4. 4(c)(ii)Prepare the Commission Revenue account for the year ending 31 December 2015.[3 marks]

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