Accounting for Beginners | Part 4 | Accruals & Prepayments

In part 4 of Accounting for Beginners, we look at Accruals and Prepayments. We explain what accruals and prepayments are, whether they are assets or liabilities, and how they are treated in accounting. We also go through journal entry examples of accruals and prepayments. We do the general ledger for prepaid expense, income received in advance (deferred income), accrued expense, and accrued income. Accounting for Beginners | Part 1 | The Accounting Equation:    • Accounting for Beginners | Part 1 | The Ac...   Accounting for Beginners | Part 2 | Debits and Credits | Journal Entries:    • Accounting for Beginners | Part 2 | Debits...   Accounting for Beginners | Part 3 | General Ledger (T-Accounts):    • Accounting for Beginners | Part 3 | Genera...   Accounting for Beginners | Part 5 | Trial Balance:    • Accounting for Beginners | Part 5 | Trial ...   Income Received In Advance (Prepaid Income) | Explained with Journal Entries Examples Check out other straightforward examples on our channel. We also offer one-on-one tutorials at reasonable rates. Connect with us: Email: info@counttuts.com Our Website: https://Counttuts.com Our Facebook Page:   / counttuts   Support our Efforts: paypal.me/counttuts