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July 11, 2018 at 6:05 am
Where can I find the answers for the Accruals and Prepayment Test Questions? Please.
John Moffat says
July 11, 2018 at 7:05 am
If you are meaning our online tests, then the answers appear in pop-up windows after you submit your answer.
June 19, 2018 at 6:04 pm
Hello Mofat Sir,
How the Prepaid and accrued income entries are done? as i have find it in the lectures ( examples are only for expenses) but its in the exam kit questions.
March 2, 2018 at 8:28 am
sir, in the T double entry account, I thought the 950 accrued expenses should be debit in accruals account and credit to cash account instead of telephone account. thanks
March 2, 2018 at 8:53 am
The end result is exactly the same if you think about it 🙂
June 22, 2018 at 2:57 am
If cash was to be credited, wouldn’t the telephone expense be 950 lower?
June 22, 2018 at 7:14 am
If we pay an expense we credit cash and debit the expense account, which makes the expense higher!
June 22, 2018 at 4:24 pm
Sorry I wasn’t clear with the question. I was following on from kennyaragbs question above, @ 7 minutes. you debit the Accruals account for 950 and credit the telephone A/c. If instead, you DR the accruals and CR the cash, you said to kennygrabs the end result would be the same. But then wouldn’t the telephone Ac be 950 lower? as the CR of 950 went to cash? hope I made sense.
June 22, 2018 at 4:33 pm
Sorry to clarify the question I asked above, what I was meant to ask is wouldn’t the telephone expense be 950 higher? if 950 was cr to cash instead of telephone expense?
February 6, 2018 at 6:32 pm
can you explain how you got $1500 for that 3 months please
February 6, 2018 at 8:48 pm
Have you not downloaded the free lecture notes?
The question specifically says that $1500 is owing – it is not for you to calculate.
There is no point in watching the lectures without having the free lecture notes in front of you ?
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