Professional Documents
Culture Documents
Luton Inc Exercise: Strictly Confidential
Luton Inc Exercise: Strictly Confidential
Table of Contents
#VALUE!
Notes
This Excel model is for educational purposes only and should not be used for any other reason.
All content is Copyright material of CFI Education Inc.
https://corporatefinanceinstitute.com/
For each of the following transactions, show which figure would be shown in:
Income statement
Cash
Prepayment
Accruals
Transactions:
Answers
Transaction 1 Dr Cr
Income statement 6,000
Cash 500
Prepayment 5,500
Accruals
6,000 6,000
Transaction 2 Dr Cr
Income statement
Cash 1,300
Prepayment
Accruals 1,300
1,300 1,300
Transaction 3 Dr Cr
Income statement
Cash
Prepayment 7,000
Accruals
7,000 -
l work being done in both months.