Electricity expense payable in

In my view , it should be Other Current Liability.

If we have actually booked the bills and created a corresponding payable account, it should be shown under current liability. In contrast if we are making a provision for an estimated amount for the purpose of closing the books for any interim period or Financial year and actual bill has not been received yet then it shall be a provision.

Telephone expenses fund minus telephone expenses paid = net provision carried forward to next financial year.

if you show as payable, it must comes under current liability head.

under current liability head

Dear Member,

It shuld be under the head of Other Current Liabilities.

It should be accounted under the head other Current Liabilities...