Exam Task 7: Accruals & Prepayments at the Year End
This lesson is part of the course
In this lesson
You calculate the insurance prepayment and the electricity accrual at 31 Dec 2026, the expense for the year including last year’s balances, and record the two adjustments.
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Lessons in this course
- Exam Task 1: Classify the Accounts & Their Normal Balances Locked
- Exam Task 2: Debit & Credit Rules in the Journal Locked
- Exam Task 3: From the Day Books to the Ledgers with SUMIFS Locked
- Exam Task 4: The Trial Balance Does Not Agree – Find the Error Locked
- Exam Task 5: Sales Tax on an Invoice – Discounts, Rounding & Tax-Inclusive Prices Locked
- Exam Task 6: Bank Reconciliation Statement Locked
- Exam Task 7: Accruals & Prepayments at the Year End Locked
- Exam Task 8: Timed Mock – Adjustments, Final Balances, Profit & a Chart Locked