CSEC Principles of Accounts · January 2018 · Paper 2 · Question 3(b)(i)

A summary of Sweet Serve's bank account for the year ended 31 December 2017 shows: Dr: Bal b/d 20 000, Sales 220 000, Rent received 24 000 Cr: Drawings 15 000, Bal c/d 24 000 (total 264 000), Purchases 120 000, Insurance 45 000, Sundry expenses 60 000. Additional information: Rent revenue outstanding: 31/12/2016 2 000; 31/12/2017 1 000. Insurance expense owing: 31/12/2016 1 500; 31/12/2017 $700.

Using the T-account format, prepare the Rent Revenue account for Sweet Serve for the year ending December 31 2017.

This question uses a figure or table from the paper — you'll see it when you practise.