A basic test on prepaid income:
You
are working on the accounting records of a business for the year ended 31 March
20X7. You are looking at the rent income for the year and this includes receipts
for the following periods:
|
Apr
20X6 – Mar 20X7 |
£5,040 |
|
Apr
20X6 – Jun 20X7 |
£5,625 |
Identify
the prepaid income that need to be posted into the accounts?
|
Account
name |
Amount
(£) |
Dr/
Cr |
|
|
|
|
|
|
|
|
A basic test on accrued income:
You
are working on the accounting records of a business for the year ended 31 March
20X7. You are looking at the rent income for the year and this includes receipts
for the following periods:
|
Apr
20X6 – Jan 20X7 |
£5,900 |
|
Apr
20X6 – May 20X7 |
£6,720 |
Identify
the accrued income that needs to be posted into the accounts?
|
Account
name |
Amount
(£) |
Dr/
Cr |
|
|
|
|
|
|
|
|
A basic test on prepayments:
You
are working on the accounting records of a business for the year ended 31 March
20X7. You are looking at the rent expense for the year and this includes
payments for the following periods:
|
Apr
20X6 – May 20X7- Office 1 |
£5,040 |
|
Apr
20X6 – Jan 20X7- Office 2 |
£5,500 |
|
Jul
20X6 – Jun 20X7- New Office |
£7,380 |
Identify
the prepayments that need to be posted into the accounts?
|
Account
name |
Amount
(£) |
Dr/
Cr |
|
|
|
|
|
|
|
|
