This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Here are the requested ledger accounts, using K as the unit. 1. Electricity Expense Account |l|l|r|l|l|r| Date & Particulars & K & Date & Particulars & K \\ 2023 Jun 30 & Bank & 40 & 2023 Jun 30 & Income Summary & 50 \\ 2023 Jun 30 & Accrued Electricity & 10 & & & \\ & & 50 & & & 50 \\ 2. Accrued Electricity Account |l|l|r|l|l|r| Date & Particulars & K & Date & Particulars & K \\ 2023 Jun 30 & Bal c/d & 10 & 2023 Jun 30 & Electricity Expense & 10 \\ & & 10 & & & 10 \\ & & & 2023 Jul 1 & Bal b/d & 10 \\ 3. Motor Vehicle Account |l|l|r|l|l|r| Date & Particulars & K & Date & Particulars & K \\ 2022 Jun 30 & Bal b/d & 500 & 2023 Jun 30 & Bal c/d & 1,200 \\ 2023 Jun 30 & Bank (Purchase) & 700 & & & \\ & & 1,200 & & & 1,200 \\ 2023 Jul 1 & Bal b/d & 1,200 & & & \\ 4. Water Expense Account |l|l|r|l|l|r| Date & Particulars & K & Date & Particulars & K \\ 2023 Jun 30 & Bank & 120 & 2023 Jun 30 & Prepaid Water & 20 \\ & & & 2023 Jun 30 & Income Summary & 100 \\ & & 120 & & & 120 \\ 5. Prepaid Water Account |l|l|r|l|l|r| Date & Particulars & K & Date & Particulars & K \\ 2023 Jun 30 & Water Expense & 20 & 2023 Jun 30 & Bal c/d & 20 \\ & & 20 & & & 20 \\ 2023 Jul 1 & Bal b/d & 20 & & & \\ 6. Bank Loan Interest Expense Account |l|l|r|l|l|r| Date & Particulars & K & Date & Particulars & K \\ 2023 Jun 30 & Bank & 20 & 2023 Jun 30 & Income Summary & 100 \\ 2023 Jun 30 & Accrued Interest & 80 & & & \\ & & 100 & & & 100 \\ 7. Accrued Interest Account |l|l|r|l|l|r| Date & Particulars & K & Date & Particulars & K \\ 2023 Jun 30 & Bal c/d & 80 & 2023 Jun 30 & Bank Loan Interest Expense & 80 \\ & & 80 & & & 80 \\ & & & 2023 Jul 1 & Bal b/d & 80 \\ That's 2 down. 3 left today — send the next one.
