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Author Question: Suppose your restaurant used one propane gas tank each month for three months during the summer to ... (Read 49 times)

Yi-Chen

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on: Aug 10, 2018
Suppose your restaurant used one propane gas tank each month for three months during the summer to fuel a barbeque grill on the outside terrace. Also assume that the cost was 15.00 per tank (45.00 total cost for the year).
 
  Should a separate cost in the property's supporting schedule for utilities be established? Why or why not?

Question 2

Blanc de Blanc is made from
 
  a. Chardonnay
 b. Pinot Noir
 c. Pinot Meunier
 
  d. None of the above


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Sophiapenny

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Reply #1 on: Aug 10, 2018
Answer to Question 1

While the cost must be recorded, it may not be necessary to set up a separate account for propane tanks. For example, the restaurant manager may use a miscellaneous utilities account in which these other non-electric, non-water utility charges are carried. This cost may also be considered a petty cash expense.

Answer to Question 2

A


Yi-Chen

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Reply 2 on: Aug 10, 2018
YES! Correct, THANKS for helping me on my review

scottmt

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Reply 3 on: Yesterday
Wow, this really help

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