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Define the following terms and show their accounting treatment: (a) Account expenses. [2 marks] (b) Prepaid expenses. [2 marks] (c) Unused stationery. [2 marks] (d)
Define the following terms and show their accounting treatment:
(a) Account expenses. [2 marks]
(b) Prepaid expenses. [2 marks]
(c) Unused stationery. [2 marks]
(d) Unexpired expenses. [2 marks]
(e) Omitted invoice. [3 marks]
(f) Drawings. [3 marks]
(g) Accrued income. [3 marks]
(h) Advance income. [2 marks]
(i) Bad debts, bad debts recovered, provision for bad debts.[4 marks
(j) Depreciation.
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