4. On 1 January 20x2, the ledger of Crystal included accrued electricity of RM400 in respect of the previous year and prepaid rental expenses of RM1,000. During the first six months of trading in 20x2, the following transactions took place: 2 Jan (0) (ii) 6 Feb (iii) 3 Mar Paid RM3,000 rent for the months of February to April 20x2 Paid RM2,200 electricity Paid RM3,000 rent for the months of May to July 20x2 (iv) 30 Jun Accrual of RM850 for electricity for the month of June 20x2. Required: a) Prepare the journal entries necessary to record the four transactions as stated in (i) to (iv) above. b) Write up and balance off the following accounts for the period ended 30 June 20x2: (1) Electricity expenses account; and Rental expenses account.

4. On 1 January 20x2, the ledger of Crystal included accrued electricity of RM400 in respect of the previous year and prepaid rental expenses of RM1,000. During the first six months of trading in 20x2, the following transactions took place: 2 Jan (0) (ii) 6 Feb (iii) 3 Mar Paid RM3,000 rent for the months of February to April 20x2 Paid RM2,200 electricity Paid RM3,000 rent for the months of May to July 20x2 (iv) 30 Jun Accrual of RM850 for electricity for the month of June 20x2. Required: a) Prepare the journal entries necessary to record the four transactions as stated in (i) to (iv) above. b) Write up and balance off the following accounts for the period ended 30 June 20x2: (1) Electricity expenses account; and Rental expenses account.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 9P

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