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accurals and prepayments

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › accurals and prepayments

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
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  • November 28, 2017 at 5:37 pm #418712
    cindy7
    Member
    • Topics: 77
    • Replies: 33
    • ☆☆

    The company A has paid insurance $21600 in 2008, covering the year ending 31 August 2009
    Answer $21600 X8/12

    On 1 January 2009 company B received rent from a tenant $9600 covering six months to 31 Dec 2008
    Answer $9600

    from company A statements, I thought the payments was $21600 for the 8 months (31 august 2009) . what proof do we have that the $21600 was not adjusted for?

    November 29, 2017 at 10:00 am #418816
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54774
    • ☆☆☆☆☆

    But for company A it says that the payment covered a year 🙂

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  • The topic ‘accurals and prepayments’ is closed to new replies.

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