Answer To Accounting Test Question AOF No. 1 On Adjustments To Final Accounts

November 26th, 2006 /

Answer to Accounting Test Question AOF No.1:

Insurance Account

2005		$	2005		$
Jun 30	Balance b/d	486	Jun 30	Advertising	39
				Profit & Loss	411
				Balance c/d	36
		486			486

Motor Vehicle Account

2005		$	2005		$
Jun 30	Balance b/d	21,379	Jun 30	Disposal of motor vehicle	5,310
				Balance c/f	16,069
		21,379			21,379

Provision For Depreciation of Motor Vehicles Account

2005		$	2005		$
Jun 30	Disposal of motor vehicle	3,740	Jun 30	Balance b/d	8,310
	Balance c/d	8,670		Profit & Loss	4,100
		12,410			12,410

Disposal Of Motor Vehicles Account

2005		$	2005		$
Jun 30	Motor Vehicles	5,310	Apr 30	Bank	1,000
				Provision for depreciation	3,740
				Loss on Disposal	570
		5,310			5,310

Repairs To Motor Vehicles Account

2005		$	2005		$
Jun 30	Balance b/d	1,087	Jun 30	Profit & loss	1,480
	Sales	393
		1,480			1,480

Sales Account

2005		$	2005		$
Jun 30	Trading account	262,783	Jun 30	Balance b/d	262,390
				Repairs to motor vehicles	393
		262,783			262,783

Purchase Ledger Control Account

2005		$	2005		$
Jun 30	Purchases returns	190	Jun 30	Balance b/d	22,975
	Balance c/d	22,785
		22,975			22,975

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