Accruals & Prepayments
Expense Account
Balance b/d (Advance/prepaid)
Bank/cash (Expense paid)
Balance c/d (Arrears /Accrued)
Balance b/d (Advance/prepaid)
Income Account
Balance b/d (Arrears/Accrued)
Bank/ cash (Refund)
Income Statement
(Balancing figure)
Balance c/d (Advance)
Balance b/d (Arrears/Accrued)
$ $
√ Balance b/d (Arrears /Accrued) √
√ Bank/cash (Refund)
√ Income Statement √
(Balancing figure)
√ Balance c/d (Advance/prepaid) √
√ √
√ Balance b/d (Arrears /Accrued) √
$ $
√ Balance b/d (Advance) √
√
√ Bank/ cash (income received) √
√ Balance c/d(Arrears/Accrued) √
√ √
√ Balance b/d (Advance) √