Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

US, 20x7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 2018, diesel fuel invoices of $85,400 were paid,

image text in transcribed

US, 20x7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 2018, diesel fuel invoices of $85,400 were paid, and a delivery worth $1,300 had yet to be invoiced. (This was the only outstanding balance on the diesel fuel payable account at the year end.) At 31 October 20x8, the inventory of diesel fuel was valued at $9,800. What is the value of diesel fuel to be charged to the garage's statement of profit or loss and other comprehensive income for the year to 31 October 20X8? $87,700 $89,400 $88,500 D $91,100 B 10.6 One of the products a garage sells to motorists is diesel fuel, Diesel fuel in inventory at 1 November

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T Horngren

4th Edition

0131797395, 978-0131797390

More Books

Students also viewed these Accounting questions

Question

10. Briefly explain the concept of a merchandise assortment. (LO4)

Answered: 1 week ago