CHAPTERS 4.12–4.

14

INCOME STATEMENTS: MAKING ADJUSTMENTS

Question 1

Dr Electricity account Cr
June 30 Bank 7 900 June 30 Income statement 8 600
30 Balance c/d 700
8 600 8 600
July 1 Balance b/d 700

Dr General expenses account Cr

June 30 Bank 11 800 June 30 Income statement 12 100
30 Balance c/d 300
12 100 12 100
July 1 Balance b/d 300

Question 2

Dr Administration expenses account Cr

Mar 31 Bank 15 500 Mar 31 Income statement 16 400
31 Balance c/d 900
16 400 16 400
Apr 1 Balance b/d 900

Dr Salaries account Cr
Mar 31 Bank 109 600 Mar 31 Income statement 112 800
31 Balance c/d 3 200
112 800 112 800
Apr 1 Balance b/d 3 200

Question 3

Dr Insurance account Cr
Aug 31 Bank 9 100 Aug 31 Income statement 8 300
31 Balance c/d 800
9 100 9 100
Sept 1 Balance b/d 800

Dr Rent account Cr
Aug 31 Bank 27 600 Aug 31 Income statement 26 400
31 Balance c/d 1 200
27 600 27 600
Sept 1 Balance b/d 1 200
b/d
Question 4

Dr Electricity account Cr
Feb 28 Bank 14 400 Feb 28 Income statement 13 900
28 Balance c/d 500
14 400 14 400
Mar 1 Balance b/d 500

Dr Selling expenses Cr
Feb 28 Bank 19 500 Feb 28 Income statement 18 800
28 Balance c/d 700
19 500 19 500
Mar 1 Balance b/d 700
b/d

Question 5

Dr Rent received account Cr

Nov 30 Income statement 21 800 Nov 30 Bank 22 400
30 Balance c/d 600
22 400 22 400
Dec 1 Balance b/d 600

Dr Loan interest received account Cr

Nov 30 Income statement 7 500 Nov 30 Bank 7 300
30 Balance c/d 200
7 500 7 500
Dec 1 Balance b/d 200

Question 6

Dr Rent received (Tenant 1) account Cr

Dec 31 Income statement 17 300 Dec 31 Bank 16 200
31 Balance c/d 1 100
17 300 17 300
Jan 1 Balance b/d 1 100

Dr Rent received (Tenant 2) account Cr

Dec 31 Income statement 17 300 Dec 31 Bank 18 200
31 Balance c/d 900
18 200 18 200
Jan 1 Balance b/d 900