October 30, 2016 admin

Utilities

Expenses

UTILITIES EXPENSE ACCOUNT
8500/8505/8506

ACCOUNT EXPLANATION
Expense of fuel, electricity, gas, and water used by the dealership.
TRANSACTIONS
  Jrnl. Dr. Cr.
  Payment of electric bill CD
    Utilities 8500
    Utilities—Service—QL/FL/QCSC 8505
    Utilities—Parts—QL/FL/QCSC 8506
      Cash in Bank—General 1001
             
  Monthly accrual of estimated quarterly water bill SE
    Utilities 8500
    Utilities—Service—QL/FL/QCSC 8505
    Utilities—Parts—QL/FL/QCSC 8506
      Accrued Other Expenses 2423
COMMENTS
  • For departmentalization purposes, utilities used exclusively by specific operating departments should be charged to those departments. Utilities used jointly by all departments should be distributed as provided in Departmentalization.