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Q#148: At 1 September , the motor expenses account showed 4 months insurance prepaid of $80 and fuel costs accrued of $95 . During September, the outstanding fuel bill was paid , plus further bills of $245. At September 30 , there was a further outstanding fuel bill Of $120 .
What was the expenses included in the statement of profit or loss for motor expenses for September?
There is no point in simply setting me a question and expecting a full answer. You must have a printed answer and so you must ask about whatever it is in the answer that you are not clear about – then I will explain.
The expense for September is the further fuel bills of 245, plus the further outstanding fuel bill of 120 and plus one months insurance, which is $80/4.
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