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Expense Recognition Question: How do you indicate the amount of expense that should be recognized for each of the following events of a company, that occurred during the year of 2018? 3. The business used electricity and water during December for manufacturing, the company will receive the bill in January 2019 and pay it in February 2019. Electricity and water costs totalling $45,375 have been recorded for the period from January 1 to November 30, 2018. Since $45,375 wouldn't be the correct answer, would it be $49,500? (45,375/11=4125+45,375=49,500) Please confirm, thanks.

Expense Recognition Question: How do you indicate the amount of expense that should be recognized for each of the following events of a company, that occurred during the year of 2018? 3. The business used electricity and water during December for manufacturing, the company will receive the bill in January 2019 and pay it in February 2019. Electricity and water costs totalling $45,375 have been recorded for the period from January 1 to November 30, 2018. Since $45,375 wouldn't be the correct answer, would it be $49,500? (45,375/11=4125+45,375=49,500) Please confirm, thanks.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
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Expense Recognition

Question: How do you indicate the amount of expense that should be recognized for each of the following events of a company, that occurred during the year of 2018?

3. The business used electricity and water during December for manufacturing, the company will receive the bill in January 2019 and pay it in February 2019. Electricity and water costs totalling $45,375 have been recorded for the period from January 1 to November 30, 2018.

Since $45,375 wouldn't be the correct answer, would it be $49,500? (45,375/11=4125+45,375=49,500) Please confirm, thanks.

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