• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

accruals and prepayments

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › accruals and prepayments

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 13, 2014 at 1:45 pm #209626
    saifudeen
    Member
    • Topics: 85
    • Replies: 85
    • ☆☆

    diesel fuel inventory at 1 november 2007 was $12500 and there were invoices awaited for $1700 . During the year 31 october 2008 , diesel fuel bills of $85400 were paid and a delievery of worth $1300 had yet to be invoiced . at 31 october 2008, the inventory of diesel fuel was valued at $9800 . what is the value of diesel fuel to be changed to the statement of profit and loss and other comprehensive income statement for the year to 31 october 2008 ?

    November 13, 2014 at 4:13 pm #209772
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    First calculate how much diesel fuel was purchased:

    You know the cash paid, add on the accrual as at 31 October 2008 and subtract the accrual as at 1 November 2007.

    When you know how much was purchased, you can then calculate how much was used by adding the opening inventory and subtracting the closing inventory.

    Then you have the figure for the SOPOL.

    November 14, 2014 at 11:49 am #209925
    saifudeen
    Member
    • Topics: 85
    • Replies: 85
    • ☆☆

    yhh i got it . thannk you sir 🙂

    November 14, 2014 at 1:25 pm #209964
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • osman-the-zephyr@ on MA Chapter 1 Questions Accounting for Management
  • adebusola on MA Chapter 1 Questions Accounting for Management
  • Sharith on Interest rate risk management (1) Part 5 – ACCA (AFM) lectures
  • Sharith on Interest rate risk management (1) Part 5 – ACCA (AFM) lectures
  • John Moffat on Discounted Cash Flow Further Aspects, Replacement – ACCA Financial Management (FM)

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in