O-LevelAccountingAccounting proceduresOct/Nov 2021Paper 2 Q420 Marks
Karishma runs her own business. The balances in her books on 1 October 2020 included the following. $ Insurance account 1700 prepaid Electricity account 1800 owing During the financial year ended 30 September 2021 Karishma made the following payments by cheque. Insurance payments $ 7 February 2021 3400 13 August 2021 3500 Electricity payments $ 14 October 2020 1800 24 January 2021 1800 26 May 2021 1800 A refund of $300 for insurance overpaid was received by bank transfer on 28 February 2021. The insurance paid on 13 August 2021 covered a period of five months to 31 December 2021. At 30 September 2021, an amount of $2000 was owing for electricity. REQUIRED
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