How did you get the total expenditure

The total expenditure of N315,210 in the Income and Expenditure Account for the year ended 30th June, 20X2, is derived by calculating each expense item for the year and then summing them up.

Here's the breakdown:

• Rent Expense:

  $$\begin{align*} \text{Rent Paid} & = \text{N}163,800 \\ \text{Add: Outstanding at 30/6/X2} & = \text{N}37,800 \\ \text{Less: Outstanding at 30/6/X1} & = (\text{N}50,400) \\ \text{Rent Expense for the year} & = \text{N}151,200 \end{align*}$$

• Insurance Expense:

  $$\begin{align*} \text{Insurance Paid} & = \text{N}12,600 \\ \text{Add: Prepaid at 30/6/X1} & = \text{N}700 \\ \text{Less: Prepaid at 30/6/X2} & = (\text{N}1,400) \\ \text{Insurance Expense for the year} & = \text{N}11,900 \end{align*}$$

• Printing Expense:

  $$\begin{align*} \text{Printing Paid} & = \text{N}8,400 \\ \text{Add: Owing at 30/6/X2} & = \text{N}1,050 \\ \text{Printing Expense for the year} & = \text{N}9,450 \end{align*}$$

• General Expense:

  $$\begin{align*} \text{General Expense Paid} & = \text{N}114,100 \\ \text{General Expense for the year} & = \text{N}114,100 \end{align*}$$

• Telephone Expense:

  $$\begin{align*} \text{Telephone Paid} & = \text{N}25,900 \\ \text{Add: Prepaid at 30/6/X1} & = \text{N}2,800 \\ \text{Less: Prepaid at 30/6/X2} & = (\text{N}5,600) \\ \text{Telephone Expense for the year} & = \text{N}23,100 \end{align*}$$

• Depreciation - Equipment:

  $$\begin{align*} \text{Equipment Cost (N21,000 opening + N18,200 purchased)} & = \text{N}39,200 \\ \text{Depreciation (5\% of N39,200)} & = \text{N}1,960 \end{align*}$$

• Depreciation - Furniture:

  $$\begin{align*} \text{Furniture Cost} & = \text{N}70,000 \\ \text{Depreciation (5\% of N70,000)} & = \text{N}3,500 \end{align*}$$

Total Expenditure:

$$\begin{align*} & \text{N}151,200 \text{ (Rent)} \\ + & \text{N}11,900 \text{ (Insurance)} \\ + & \text{N}9,450 \text{ (Printing)} \\ + & \text{N}114,100 \text{ (General Expense)} \\ + & \text{N}23,100 \text{ (Telephone)} \\ + & \text{N}1,960 \text{ (Depreciation - Equipment)} \\ + & \text{N}3,500 \text{ (Depreciation - Furniture)} \\ \hline = & \boxed{\text{N } 315,210} \end{align*}$$