Financial statements question- Am i being thick
mamfamonkey
Registered Posts: 3
Question is for year ended December 20X9:
Invoice for electricity for the quarter ended February 20y0 was received in March for £1,800. It accrues evenly over the quarter. 50% is included in cost of sale and 50% in admin expenses.
How much would you do an accrual for in cost of sales and admin expenses?
Invoice for electricity for the quarter ended February 20y0 was received in March for £1,800. It accrues evenly over the quarter. 50% is included in cost of sale and 50% in admin expenses.
How much would you do an accrual for in cost of sales and admin expenses?
0
Comments
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One third (£600) relates to financial year ending Dec 20X9
50% x £600 = £300 each for CoS and admin expenses0 -
Thanks for answering Wabisabi. Can you explain that to me because i just cant see it. Think i've frazzled my brain0
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Just answered my own question. Thanks1
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