Show model answer and explanation
300
1200/12×3.
Class 12 · Bangla Version · Accounting
Financial statements
Adjust for accruals and prepayments in a period statement.
Original Kidemy further-topic investigation. This optional lesson is shared by related upper pathways; select suitable depth with a teacher. It does not certify complete grade or board coverage.
Learn the idea
An accrual recognises a period expense that is still unpaid; a prepayment excludes payment for future periods from the current expense. Follow the stated time coverage and opening balances. Cash paid alone does not determine the period expense.
Worked example
Insurance paid1200 covers12 months from 1 October. At31 December,3 months belong to the period: expense300 and prepayment900 in this simplified case. An unpaid expense is recognised with a corresponding liability.
- Draw the coverage timeline.
- Separate cash and expense.
- Check asset and liability adjustments.
Your written practice
Show your working on paper and enter your answer here. If it does not match, compare the model and try again.
Show model answer and explanation
900
1200−300.
Show model answer and explanation
250
900−650.
Write in your own words. A guardian or teacher should review this response.
Show model answer and explanation
Debit electricity expense180; credit accrued payable180.
Recognise expense and liability.
Write in your own words. A guardian or teacher should review this response.
Show model answer and explanation
They determine which period receives the expense and which part remains a future benefit.
Connect allocation to the period.
Apply the idea
Prepare a fictional adjusted expense schedule with one accrual and one prepayment.
Review with a guardian or teacher
- Use the stated evidence or givens.
- Show reasoning rather than only a result.
- Review and explain one correction.
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