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A credit purchase of D 63 from Kofi has been entered in he accounts as D 16. This is an error of
Use the following information to answer this question.
GH¢
Trade creditors 1/1/2022 35,000
Payment to suppliers in 2022 30,000
Discounts received 1,800
Trade creditors 31/12/2022 24,000
The balance sheet as at 31/12/2022 will show current liability of
Use the following information to answer this question.
GH¢
Trade creditors 1/1/2022 35,000
Payment to suppliers in 2022 30,000
Discounts received 1,800
Trade creditors 31/12/2022 24,000
The purchases for 2022 is
A debit balance of D 61,000 on a customer's bank statement means that
The objective of preparing a departmental account is to
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The margin for a business is 2/5 and the cost of sales is $ 120,000.
The sales value for the business is
Use the following information to answer this question.
The margin for a business is 2/5 and the cost of sales is $ 120,000.
The mark-up for the business is
An account in the real ledger is
Which of the following items will not be charged to the manufacturing account?
Subscriptions classified in the balance sheet as a current asset is subscriptions
An item is classified as a current asset if it is
The concept that underlies the comparing of expenditure for a period with the revenue of same period is
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Bayo issued a credit note to Ayo who returned defective goods. Each party maintains sales ledger control account and purchases ledger control account.
Bayo will record this transaction on the
Use the following information to answer this question
Bayo issued a credit note to Ayo who returned defective goods. Each party maintains sales ledger control account and purchases ledger control account.
Ayo will record this transaction on the
In an incomplete record, the excess of opening capital ove closing capital is
Work-in-progress is an item in
Expense incurred but not yet paid is
The class of shares which are available only to the promoters of a company are
An item recorded in the trial balance is
According lo the entity concept, ownership is