Homework Help is Here – Start Your Trial Now!
Business
Accounting
Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 20X8, diesel fuel bills of $85,400 were paid, and a delivery worth $1,300 had yet to be invoiced. 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 statement of profit or loss and other comprehensive income for the year to 31 October 20X8? A $87,700 B $89,400 C $88,500 D $91,100

Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 20X8, diesel fuel bills of $85,400 were paid, and a delivery worth $1,300 had yet to be invoiced. 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 statement of profit or loss and other comprehensive income for the year to 31 October 20X8? A $87,700 B $89,400 C $88,500 D $91,100

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 9EB: Blue Barns sold 136 gallons of paint at $31 per gallon on July 6 to a customer with a cost of $19...
See similar textbooks
icon
Related questions
Question
100%

Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for

$1,700. During the year to 31 October 20X8, diesel fuel bills of $85,400 were paid, and a delivery

worth $1,300 had yet to be invoiced. 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 statement of profit or loss and other

comprehensive income for the year to 31 October 20X8?

A $87,700

B $89,400

C $88,500

D $91,100

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Individual Income Taxes
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
SWFT Individual Income Taxes
SWFT Individual Income Taxes
Accounting
ISBN:
9780357391365
Author:
YOUNG
Publisher:
Cengage
SEE MORE TEXTBOOKS