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 Beginne...
Accounting for Beginners | Part 2 | Debits and Credits | Journal Entries: • Accounting for Beginne...
Accounting for Beginners | Part 3 | General Ledger (T-Accounts): • Accounting for Beginne...
Accounting for Beginners | Part 5 | Trial Balance: • Accounting for Beginne...
Income Received In Advance (Prepaid Income) | Explained with Journal Entries Examples
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Hey
In the 1st example why did we use R1800 instead of R10000

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Bank reconciliations please

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[@Counttuts]

South Africa

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I don't understand the part that he divide it by 12?

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16:00

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I really didn’t understand anything