WORKING AND LEDGER ACCOUNTS

Assignment – Part 1

Provisionfor doubtful debt= 8100+5200-6800 = $6,500

Insuranceexpense paid= 12900+5600-3400= $15,100

Annualleave expense paid= 14,500+9700-13200= $11,000

Income tax refund receivable taxloss × 30% = 16900 × 30% = $5,070

Insurance expense paid

Prepaid insurance

$

$

Beginning balance

3 400

Ending balance

5 600

Ending balance

10 700

Insurance expense

12 900

16 300

16 300

Balance c/f 3 400

Annual Leave paid

Provision annual leave

$

$

Annual leave paid

11 000

Beginning balance

9 700

Ending balance

13 200

Leave Expense

14 500

24 200

25 100

Balance c/f13 200

Reference

ArnoldG. (2008). Corporate financial management 4th edition.Britain:PearsonEducation.