Other Payables And Other Receivables
Bayani Gaba-gaba
A business pays its bills on its own timetable, not the calendar's. The electricity bill arrives after the power has been used; a year's insurance is paid in one lump up front. So when the financial year ends, some expenses have been used but not yet paid, and some have been paid but not yet used. The same happens with income. If we simply counted the cash that changed hands, the profit would be wrong. Other payables and other receivables are the year-end adjustments that fix this, so each year is charged only with what truly belongs to it.
In this lesson you will apply the matching (accruals) concept to both expenses and income. You will learn to handle accrued expenses, prepaid expenses, accrued income and income received in advance, write up the ledger accounts that carry the balances forward, and place each balance correctly as a current asset or current liability. These adjustments are among the most reliable marks in the exam once the method clicks.
Manufura
- the importance of matching costs and revenues.
- how to apply the matching / accruals concepts by using accruals and pre-payments.
- how to prepare journal entries and ledger accounts to record accrued and prepaid expenses.
- how to prepare journal entries and ledger accounts to record accrued and prepaid incomes.
Takardar Darasi
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Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
Nazarin Darasi
Barka da kammala darasi akan Other Payables And Other Receivables. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.
Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.
Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.
- How is an accrued expense shown in the statement of financial position? A. As a current asset B. As a current liability C. As a non-current asset D. It is not shown Answer: B
- A business paid $2 000 for rent during the year. At the year-end $300 of rent was still owing. What is the rent charged to the income statement? A. $1 700 B. $2 000 C. $2 300 D. $300 Answer: C
- A business paid $1 200 for insurance on 1 October. Its year ends on 31 December. How much insurance is charged to the income statement? A. $1 200 B. $900 C. $300 D. $400 Answer: C
- Rent received during the year was $4 800, of which $400 relates to next year. What is credited to the income statement? A. $5 200 B. $4 800 C. $4 400 D. $400 Answer: C
- Which item is a current asset (an other receivable)? A. An accrued expense B. Income received in advance C. A prepaid expense D. An amount owed to a supplier Answer: C
Akwai a cikin manhajar Green Bridge
Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
Akwai a cikin manhajar Green Bridge
Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
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Yi Aikin Tambayoyin Gwaji
Kana son yin aikin tambayoyin gwaji kan Other Payables And Other Receivables? Sauke manhajar Green Bridge CBT don samun tambayoyin gwaji da cikakkun jarrabawa akan wannan batu.
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