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3 marksAccruals and Prepayments

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

Gargar Mell Company was owed 2 500 in Commission Revenue on 1 January 2015 and received 14 000 during the year.

Prepare the Commission Revenue account for the year ending 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(b)Prepare the Rent Expenses Account for the year ended 31 December 2015.[6 marks]
  4. 4(c)(i)State under which heading in the Balance Sheet of the previous year the $2 500 would have been recorded.[1 mark]

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