What are Accruals give 2 examples?

Asked by Nathaniel Li

Accrual Accounting Examples

  • Sales on Credit.
  • Purchase on Credit.
  • Income Tax Expenses.
  • Rent Paid in Advance.
  • Interest Received on FD.
  • Insurance Expenses. You can calculate it as a fixed percentage of the sum insured & it is paid at a daily pre-specified period.
  • Electricity Expenses.
  • Post-sales discount.
Carla McCrory, BA Contributor
Carla McCrory
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