Practice worksheet on Other Receivables & Payables

Name: Section: Roll:

Class: IX Subject: Accounting Teacher: Nasima Aziz/Palash Kundu Date:

1. Mr. Alex owns a number of apartments in Bristol. He rents out these apartments to tourists during every
summer. He had the following balances on 1 April 2020.

Rent income accrued $1,200.

Advanced receipt of rent $600
Utility bill unpaid $500

He made the following transactions during the three months ended 30 June 2020

15 April Received a cheque of $800 which was in due on 1 April 2020.

28 April Received a cheque of $700 for renting out another apartment for one
week.
5 May Paid the utility bill that was unpaid on 1 April 2020.
15 May Paid $600 for insurance for one year that would be effective on 1 April
25 May Received a cheque of $900 for the rent of one apartment
10 June Paid $400 of the utility bill accrued for the month of May
15 June Received a cheque of $700 in advance for the rent of one apartment in
July.
30 June Received a bill of $500 for the utility charged for the month of June
30 June Customers owed him $800 for renting one apartment

Prepare the following accounts:

(i) Rent receivable account

(ii) Utility expense account
(iii) Insurance expense account.