The electricity account for the year ended 30 June 20X1 was as follows.
$
Opening balance for electricity accrued at 1 July 20X0
300
Payments made during the year
1 August 20X0 for three months to 31 July 20X0
600
1 November 20X0 for three months to 31 October 20X0
720
1 February 20X1 for three months to 31 January 20X1
900
30 June 20X1 for three months to 30 April 20X1
840
1 August 20X1 for three months to 31 July 20X1
Which of the following is the appropriate entry for electricity?
Accrued
at 30 June 20X1
Charge to SOCI
year ended 30 June 20X1
$460
$3,320
$560
$3,420
$Nil
$3,060
The correct answer is:
Balance b/fwd
20X0:
1 August
Paid bank
1 November
20X1:
1 February
30 June
2/3 x 840
I & E account
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