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The gas account for the year ended 30 June X2 is as follows: Opening balance for gas accrued at 31st July X1 Payments made during
The gas account for the year ended 30 June X2 is as follows: Opening balance for gas accrued at 31st July X1 Payments made during the year: 600 10 August X1 for the three months to 31 July X1 800 12 November X1 for the three months to 31 October X1 840 3 February X2 for the three months to 31 January X2 1,040 18 May X2 for the three months to 30 April X2 950 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 600 Choose... The journal to post the required gas expense accrual at 30 June X2 is: Choose... Gas Choose... + Choose... Accruals Choose... The value shown of the statement of profit or loss for gas at 30 June X2 is: Choose... + (Select your answer in each dropdown menu) Choose... + Choose... 600 633 The tab next to the red dots has a drop-down menu to choose CREDIT or DEBIT 3,597 0 950 3,630 4,863 3,663 The drop-down menus next to the yellow dots has an option of price MG Ltd is no longer operating as a business but still owes Mr Tea 2,850. Mr Tea now does not believe that he will recover the money and so will remove this debt from his receivables ledger. What type of item is this? Select one: A. Credit note B. Provision C. Doubtful debt D. Irrecoverable debt Which of the following journals would correctly post an adjustment for deferred (prepaid) income? Select one: A. DR Income Account/CR Asset B. DR Asset / CR Income Account O C. DR Income Account / CR Deferred Income O D. DR Deferred income/CR Income Account
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