Accrued Expenses - Ch. 3 Video 5

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Uploaded by on May 18, 2010

Adjustment for Accrued Expenses

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Education

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  • @vasilias2006 Bank account balance is cash basis, accounting is accrual basis.

  • why Jan. 7? you said we get pain Jan 9?

  • There is a mistake with the journal entry date. It should have been Jan 9th because that's pay day and wages expense incurred was 7 days. There's nothing wrong with the chart. 3rd and 4th of Jan are non-working days because it's the weekend.

  • @TheNemeson yes

  • Smudge.

  • thank you so much...I wish I could get all the lectures, nit partially. TT

  • thanks!! i understand so much better now!!

  • @Godfather001001 yeah.....i do think , too.

  • I still am lost... If i record something into expenses (salery or paperclips) then it no longer shows in my assets... but I do still have that money in the bank account so my bank account statement wont reconcyle with the asset account ledger - sorry that is the bit that I can't get my head around

  • So, someone already answered my question. Haha sorry

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