_4. How much is the reportable expenses for June 2021? Received electricity bill for P10,000 for use of electricity in June 2021; payable in July 2021. • Paid P15,000 in June 2021 as advance payment of rent for July, August and September 2021. A. P10,000 B. P15,000 C. P25,000 D. None of the above

_4. How much is the reportable expenses for June 2021? Received electricity bill for P10,000 for use of electricity in June 2021; payable in July 2021. • Paid P15,000 in June 2021 as advance payment of rent for July, August and September 2021. A. P10,000 B. P15,000 C. P25,000 D. None of the above

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 6MCQ: Rons Diner received the following bills for December 2019 utilities: â€¢ Electricity: $625 on...

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Concept explainers

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.

Question

100%

_4.
How much is the reportable expenses for June 2021?
Received electricity bill for P10,000 for use of electricity in June 2021; payable in July
2021.
Paid P15,000 in June 2021 as advance payment ofrent for July, August and September
2021.
A. P10,000
В. Р15,000
С. Р25,000
D. None of the above

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