You are required to make year-end adjustments before preparing the extended trial balance for the year ended 30 June 2016: (Ignore VAT in this task)
Balances at 1 July 2015 included:
Accrual for Rent paid £145
Prepayment for Insurance £175
The bank summary for the year shows rent paid £4,400 which includes a rent payment of £750 for
the quarter ended 31 August 2016.
A) Prepare the Rent paid account for the year ended 30 June 2016 closing it off to the Statement of
profit or loss (5 Marks)
RENT PAID ACCOUNT
Date
Details
E
Date
Details
E