Diesel fuel held as inventory at 1 November 2020 was P125,000 and there were invoices awaited for P17,000. During the year to 31 October 2021, diesel fuel invoices of P854,000 were paid, and a delivery worth P13,000 had yet to invoiced. At 31 October 2021, diesel fuel inventory was valued at P98,000. The diesel fuel to be charged as an expense in the profit or loss of the year to 31 October 2021 A P877,000 B P911,000 P851,000 P885,000

Diesel fuel held as inventory at 1 November 2020 was P125,000 and there were invoices awaited for P17,000. During the year to 31 October 2021, diesel fuel invoices of P854,000 were paid, and a delivery worth P13,000 had yet to invoiced. At 31 October 2021, diesel fuel inventory was valued at P98,000. The diesel fuel to be charged as an expense in the profit or loss of the year to 31 October 2021 A P877,000 B P911,000 P851,000 P885,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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