Exercise 5

On 1 January, Repairs and Maintenance owing amounted to $500. During the year,
Maintenance Expenses paid were as follows:

15 February $2 400 by cheque

24 April $2 200 in cash
12 September $3100 by cheque
Repairs and Maintenance Expenses for the current accounting year amounted to $7 900.
Show the Maintenance Expenses account.

Dr Maintenance Expenses Account Cr

Date Details Amount Date Details Amount
$ $
15 Feb Bank 2 400 Jan 1 Balance b/d - due 500
24 Apr Cash 2 200 Dec 31 Income statement 7 900
12 Sept Bank 3 100
31 Dec Balance c/d - due 700
8 400 8 400
Jan 1 Balance b/d - due 700

Exercise 6
On 1 March 2019, inventory of stationery amounted to $200. During the year ended 29
February 2020, the business bought Stationery as follows:

31 May 2019 $4 500 by cheque

25 September 2019 $1 600 in cash
12 January 2020 $6 200 from Kevin
Stationery in inventory at 29 February 2020 were $1 200. Show the stationery account.

Dr Stationery Account Cr
Date Details Amount Date Details Amount
$ $
1 Mar 19 Balance b/d 200 29 Feb 20 Income statement 11 300
31 May 19 Bank 4 500 29 Feb 20 Balance c/d 1 200
25 Sept 19 Cash 1 600
12 Jan 20 Kevin 6 200
12 500 12 500
1 Mar 20 Balance b/d 1 200