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-   -   Accrued expense (https://www.askmehelpdesk.com/showthread.php?t=662220)

  • May 21, 2012, 01:21 PM
    saba999
    Accrued expense
    Your company pays expenses of $50,000 during the year and accrues expense of $5,000 at year end.what is your company's total expenses for the year?

    a.$55,000 b. $50,000 c.$45,000 d.$5,000
  • May 21, 2012, 06:34 PM
    paraclete
    Quote:
    Originally Posted by saba999 View Post
    Your company pays expenses of $50,000 during the year and accrues expense of $5,000 at year end.what is your company's total expenses for the year?

    a.$55,000 b. $50,000 c.$45,000 d.$5,000
    What is your answer
  • May 22, 2012, 09:03 AM
    saba999
    My answer is d. $5,000
  • May 22, 2012, 04:12 PM
    paraclete
    Quote:
    Originally Posted by saba999 View Post
    My answer is d. $5,000
    That is incorrect the expenses are the sum of what has been recorded plus outstanding accounts for expenses related to the period
  • May 22, 2012, 06:36 PM
    saba999
    It means option a.$55,000 is correct.

    Thanks for your help.

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