Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 10 - No. 49)
Which of the following adjustments related to electricity costs would be applied at year-end?
The expense for electricity.
A credit for electricity payable.
The balance of the electricity expense.
All of the above.
Explanation
All of these statements are relevant, the expense should be applied so that it is recorded, and a credit is made for the electricity payable, and the balance must be included.
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