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On January 13, 2018 Astra Ltd is preparing to close its financial statements for the year 2017. At that date is has calculated the following
On January 13, 2018 Astra Ltd is preparing to close its financial statements for the year 2017. At that date is has calculated the following accruals for 2017:
Electricity for December 2017 $2,000
Water for December $650
Audit fees for the year 2017 $5,500
On March 13 2018, it has paid the above expenses in full, however audit fees actually paid were $5,000 since the auditors decided to give a discount to the company.
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