ETB - Extended Trial Balance

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hey,

I was wondering if anyone could help me with an ETB question.

The Trial Balance is as at 28 February 2004

A Gas bill of £400 is received after the year end, in repsect of the period to 28 February 2004.

Does that make the gas bill an accural? and I Debit it in the P+L? and if so what do I credit?

Any help would be grand! Many Thanks,

Jessie

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ETB - Extended Trial Balance

    It is an accrual so you debit electricity and credit accruals (or creditors depending on what accounts are available to you).

    Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ETB - Extended Trial Balance

    Oh thanks :D I was half way there, it's the whole who to Debit and who to Credit thing that always gets me!

    Jessie x

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