Qualification > Commerce

help in accounting paper 3 plz

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AL*Eagle:

--- Quote from: IGCSE hater! on May 31, 2009, 04:39:17 pm ---to AL*Eagle...
luk...the insurance is an expense rite?! so u shud noe the layout for the account wen it cums to accrued and prepaid..
u hve the prepaid b/d....60...so v debit tht as bal b/d...thn they sed paid insurance...meanin thts bank...so v debit bank by 264....now thz account if for the year till 31 march 2004...but the dude paid 264 till june 30 2004....tht means he paid 3 months xtra....so thts prepaid...so 3/12 multiplied by 264...thts ur prepard c/d which goes to ur crdit side...thn the difference will b ur p&l..

--- End quote ---

thank u very much dude!!

+REP!!

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