Income Received In Advance (Prepaid Income) | Explained with Journal Entries Examples

[@sbongadubazane]

you just made the life of accounting more easier to understand thank mfe2 much appreciated

[@pashpole1065]

Thank you for your phenomenal selfless work.

[@Thandoluhle-i1s]

May God bless you abundantly Sir

[@mahrukh_arts]

Thank you sir, helped a lot!

[@AshishGupta-fy4rz]

Very very useful video sir ji

[@ronytjoseph]

Beautiful..come up with more videos Sir

[@vuvu_8604]

thank you boss... helped alot

[@swanietjirongo2238]

Very useful

[@esethungiyana1860]

GOD BLESS YOU

[@tatendamautsa8962]

Hie sir shouldnt we debit Accured income not bank?

[@Nilezeche]

Can I please ask why for the first example was bank debited but the second one rent income was debited😊

[@bhekanindwandwe1864]

indeed it very helpful i really appreciate it

[@ronytjoseph]

Sir..
08:54 when should we make that adjustment entry?
31-12-2019 or 31-12-2020?

[@Counttuts]

2019, this is because we are doing the books for 2019. In 2020, that is when we recognize the rent income because we will have earned it.

[@ronytjoseph]

@@Counttuts thanks a lot Sir..
Do more videos..
& Ur videos are really simple & deserves more views

[@manojchhinchani2694]

Hi Sir Need a help. For year end Account closing ....all customers Advaces Receipt amount will be adjusted to which account and what will be the entry? And Vice versa All Suppliers Debit Balance to be adjusted to which Account for that year to close.what will be the correct entry. Please help.

[@BOSS-AI-20]

At 5:35
can we write prepaid rent in credit !?

[@Wireless_connecions]

🇿🇦