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?
$87,700
Diesel fuel payable account$Balance b/fwd (1,700)
Payments 85,400
Balance c/fwd 1,300
Purchases 85,000
Cost of fuel used?????? $
Opening inventory 12,500
Purchases?????????? 85,000
Closing inventory (9,800)
?????????????????????????? ?87,700
多做幾道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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