Accruals & Prepayments
DDOROURKE123
Registered Posts: 62
Hi, I'm struggling to understand the concept of this. I think I've learnt the basis
Accrued income
Debit accruals a/c
Credit income a/c
Accrued expense
Debit expense a/c
Credit accruals a/c
Opposite for prepayments
But apart from that (which I'm not 100% that is right) I don't understand anything else
I've taken the practise assessments on the aat website and I struggle to get near the answer... there's also not a prepayment version either
When I look through my books, it always seems to jump into the questions so quickly even though I haven't understood anything
Please help if you can
Accrued income
Debit accruals a/c
Credit income a/c
Accrued expense
Debit expense a/c
Credit accruals a/c
Opposite for prepayments
But apart from that (which I'm not 100% that is right) I don't understand anything else
I've taken the practise assessments on the aat website and I struggle to get near the answer... there's also not a prepayment version either
When I look through my books, it always seems to jump into the questions so quickly even though I haven't understood anything
Please help if you can
0
Comments
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I can share the example question if that helps???0
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See if this helps: media.wix.com/ugd/9a8e75_c1b532cc349c4171994388ac4b34ef52.pdf0
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Thank yo, I'll have a look0
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you*0
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You're welcome0
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