Financial statements question- Am i being thick

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?

Comments

  • wabisabi
    wabisabi Registered Posts: 130 Epic contributor 🐘
    One third (£600) relates to financial year ending Dec 20X9

    50% x £600 = £300 each for CoS and admin expenses
  • mamfamonkey
    mamfamonkey Registered Posts: 3
    Thanks for answering Wabisabi. Can you explain that to me because i just cant see it. Think i've frazzled my brain
  • mamfamonkey
    mamfamonkey Registered Posts: 3
    Just answered my own question. Thanks
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