Hi can anyone over this and tel me where i've gone wrong so i can understand it for my own satisfaction, i just can't work out where i keep going wrong,
If a buisness year ends on the 31Mar 5. when calculating the accrual or (prepayments) for each of the following items,
Rent paid to 31 Dec 4. £1200pa is it a = (300) b= 300 c= 900 d= nil
I thought it was A= 300
Rates paid to 31may 5. £2400pa is it a=(400) b= (800) c= nil d= 300
I thought it was A= (400)
Insurance paid to 30 jun 5. £600 a= nil b= 150 c = (150) d = 300
I thought it was A= Nil
Salaries paid to 28 Feb 5.£12000pa a= nil b= 1000 c= (1500) d= (1000)
I thought it was D = (1000)
Wages paid to 31 Mar 5. £36000pa a= 3000 b= (3000) c= nil d= 6000
I thought it was C = Nil
Select the leger account balance DR or (CR) for each item after reversal of the entries on 1st Apr 5.
Rent a= (300) b= 300 c= 900 d= nil
I thought it was B = 300
Rate a= (400) b= (800) c= nil d= 400
I thought it was C = Nil
Insurance a= nil b = 1000 c = (1500) d = 1000
I thought it was D = 1000
Wages a = 3000 b = (3000) c = nil d = 6000
I thought it was A = 3000
Select the journal entry DR or (CR) to be made in the Nominal ledger to record these accruals and prepayments at 31 Mar 5
Rent a = ( 300) b= 300 c = 900 d = nil
I thought it was A = (300)
Rates a = (400) b = (800) c = nil d = ( 400)
I thought it was D = (400)
Insurance a = nil b = 150 c = (150) d = 300
I thought it was A = Nil
Salaries a = nil b = 1000 c = ( 1500) d = (1000)
I thought it was D = (1000)
Wages a = 3000 b= (3000) c = nil d= 6000
I thought it was C = Nil
I find this accruals and prepayments very confusing, but now im not longer doing this course and I have posted one before and was helped
really well and understood where i had gone wrong, and hope that some one would explane on this so if i ever decide to take the course up again
i will understand this part of it,
Thank you for the help in the past
Sue :cry:
R
