• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

accruals and prepaymennts

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › accruals and prepaymennts

  • This topic has 2 replies, 2 voices, and was last updated 12 years ago by MikeLittle.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • March 7, 2013 at 8:45 pm #119485
    mary Cawley
    Member
    • Topics: 2
    • Replies: 9
    • ☆

    u are given the following information:
    Balance as at 1 April 20×0
    Accrual for admin expenses 790
    Prepayment for selling expenses 475

    The bank summary for the year shows payments for admin expenses of $7190. Included in this figure is $2700 for the quarter ended 31 May 20×1

    (i). Prepare the admin expenses account for the year ended 31 March 20×1 and close it off by showing the transfer to the income statement.
    Answer given- Income statement charge is $4600 and there is a balance c/d of $1800. How do you get these please!
    The bank summary for the year shows payments for selling expenses of £7900. In April 20×1, £900 was paid for selling expenses incurred in March 20×1.

    (b) Prepare the selling expenses account for the year ended 31March 20×1 and close it off showing the transfer to the Income statement

    Answer given as $9275 for income statement and balance c/d of $900. Can you explain how to arrive at these please
    please send answer to mfumupeter@yahoo.com

    March 8, 2013 at 7:03 am #119493
    mary Cawley
    Member
    • Topics: 2
    • Replies: 9
    • ☆

    sorted i now worked it out

    March 8, 2013 at 7:46 am #119497
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    OK

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • umangkumbhat on What is Assurance? – ACCA Audit and Assurance (AA)
  • ahmadhoney on How to register with ACCA?
  • John Moffat on Interest rate risk management (1) Part 5 – ACCA (AFM) lectures
  • osman-the-zephyr@ on MA Chapter 1 Questions Accounting for Management
  • adebusola on MA Chapter 1 Questions Accounting for Management

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in