A company's year end is 30th November 20X2. The company pays for its electricity by standing order at £1,200 per month. On 1st December 20X1, the statement from the electricity supplier showed that the company had overpaid by £400. The company received four electricity bills for the quarters commencing 1st December 20X1 and ending on 30 November 20X2 for £2,600, £2,800, £4,200 and £4,000. Which of the following is the correct electricity charge for the company for the year ended 30th November 20X2.

Question

Quizplus · Accepted Answer

The total of the four quarterly bills is £13,600 (£2,600 + £2,800 + £4,200 + £4,000). The overpayment of £400 from the previous year does not affect the current year's charge.

A Company's Year End Is 30th November 20X2