The gas account for the year ended 30 June X2 is as follows: ...
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Accounting
The gas account for the year ended 30 June X2 is as follows:
| Opening balance for gas accrued at 31st July X1 | 700 |
| Payments made during the year: | |
| 10 August X1 for the three months to 31 July X1 | 840 |
| 12 November X1 for the three months to 31 October X1 | 880 |
| 3 February X2 for the three months to 31 January X2 | 1,080 |
| 18 May X2 for the three months to 30 April X2 | 990 |
It is anticipated that the next quarter's payment will be the similar to the last quarter.
The opening balance on the gas expense account at 1 July X1 is 700 Answer 1Choose...DEBITCREDIT
The journal to post the required gas expense accrual at 30 June X2 is:
Answer 1Choose...DEBITCREDIT Gas Answer 2Choose...3,79066009907005,1503,8303,750
Answer 1Choose...DEBITCREDIT Accruals Answer 2Choose...3,79066009907005,1503,8303,750
The value shown on the statement of profit or loss for gas at 30 June X2 is
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