Used power and water during December for manufacturing. Sunlands Innovations Co. will receive the bill in January
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Question:
Used power and water during December for manufacturing. Sunland’s Innovations Co. will receive the bill in January 2022 and pay it in February 2022. Power and water costs totalling $56,760 have been recorded for the period from January 1 to November 30, 2021. For each event, indicate the amount of expense that should be recognized in the 2021 income statement. (Hint: Use professional judgement to estimate expense where appropriate.)
Related Book For
Principles of Cost Accounting
ISBN: 978-1305087408
17th edition
Authors: Edward J. Vanderbeck, Maria Mitchell
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