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When goods are received from head office, head office will be credited while
|
₦ |
|
|
Balance as per cash book |
5467 |
|
Uncredited cheques |
4410 |
|
Unpresented cheques |
19404 |
The balance as per bank statement is
Subscription in advance is treated in the balance sheet as a
| # | |
|
Stock Jan 1 |
2600 |
| Purchases | 4000 |
| Carriage inwards | 500 |
| Sales | 9000 |
| Carriage outwards | 500 |
Determine the net profit
Which of these is the main source document for recording cash paid into bank?
One of the options below is not the source of income for non - profit organization
Accounting entry for dissolution expenses is
A part of public company's profit belonging to the shareholders is
The principle of double entry developed from the axioms of accounting equation is given as
|
₦ |
|
|
Debtors opening |
4000 |
| Debtors closing | 1500 |
|
Cash received from debtors |
8500 |
|
Bad debts written off |
350 |
| Discount allowed | 500 |
| Discount received | 1000 |
What is the amount of sales for the year?
The following appears in the trading account except
The authority warrant issued prior to the approval of the appropriate bill at the begining of the year
The use of three column cash book is determined by
The following are importance of branch account except
Double entry: two accounts.
Balance sheet shows assets and liabilities.
Given:
Lankoh Company Ltd
₦
Stock 3,600,000
Cash at hand 800,000
Cash in bank 2,400,000
Debtors 580,000
Trade creditors 920,000
Bank overdraft 200,000
Tax liabilities 600,000
Salary owed to staff 180,000
What is the working capital?
Forlah, a stock broker bought stationery for ₦12,000 by cash. To record this transaction, debit
Which of the following is a debit item in the purchase ledger control account?
The interest on partner's loan is