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SoLLUMINATI SoLLUMINATI
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5 years ago
A brewing company operating in an Ontario city experiencing water shortages received its water
bill for December 1999, on December 31, 1999. The bill ($8,000) represents the cost of water
used in December to make its product. The company will not publish the 1999 financial
statements until February 2000. Therefore, the adjusting entry as of December 31, 1999 includes
which of the following?
A) cr. utilities payable $8,000
B) cr. cash $8,000
C) cr. utilities expense $8,000
D) no adjusting entry needed because the bill will not be paid until January 2000
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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aricketts6@aricketts6@
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5 years ago
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SoLLUMINATI Author
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#2
5 years ago
Helps a lot... Now I'm ready for my quiz
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