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In dealing with incomplete record, fixed assets are posted to___________-
| |
|
|
Stock at branch 1st January at cost |
400 |
|
Goods sent to branch at cost |
8000 |
|
Returns to head office |
340 |
|
Cash sales |
9160 |
|
Stock at branch 31st December at cost |
720 |
Use the information below to answer the question.
Adex Ltd. Issues stock to its retail branches at cost price.
Calculate the cost of goods credited to the head office trading account
The cost price method is applicable when_____
A partnership deed is used to____________
Branch stock adjustment account is prepared at?
Using the following:
Balance as par overdraft of the cashbook is ₦4000 ,uncredited cheque is ₦2300, bank charges ₦300, unpresented cheque ₦5000.
what is the adjusted cashbook balance?
What act generally includes completing unfinished partnership business, collecting and paying debts, collecting partnership assets to be turned into cash and taking inventory?
In departmental accounting, which is not a transfer pricing_________
Which of the following methods of invoicing goods to branches facilitate easy checks on the activities of branches?
| |
|
|
Stock at branch 1st January at cost |
400 |
|
Goods sent to branch at cost |
8000 |
|
Returns to head office |
340 |
|
Cash sales |
9160 |
|
Stock at branch 31st December at cost |
720 |
Use the information below to answer the question.
Adex Ltd. Issues stock to its retail branches at cost price. The following particulars relate to Ede branch.
The amount paid by the new partner on admission as a compensation for the reputation built up by old partners is a
Use the information below to answer the question
| Liabilities ₦ | Assets ₦ |
| Capital 40,000 | Furnishing 10,000 |
| Ceiling Fan 1,500 | |
| Cash in Hand 28,500 | |
| 40,000 | 40,000 |
If at 31/1/95 the following information was ascertained;
(i). rent for shop #12,000 paid for the year
(ii). Total purchases #15,000
(iii). Total sales #8,200
(iv). Stock of goods left #10,000
(v). paid sales boy #500
If at 31/1/95 the following information was ascertained;
(i). rent for shop #12,000 paid for the year
(ii). Total purchases #15,000
(iii). Total sales #8,200
(iv). Stock of goods left #10,000
(v). paid sales boy #500
What is the balance on its cash account as at 31/1/95
Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including____________
In reconciling the branch and head office accounts, remittance in transit in the branch books is treated as a_____________
Which of the following is not a type of branch?
Why are adjustments in the profit and loss account necessary?
Calls in advance are treated in the balance sheet as_______
Ade, Tony, Rose share profit and losses in the ratio of 3 : 2 : 1 respectively. Ade retires and the remaining partners decide to take Ade’s share in the existing ratio. What is the new ratio?
Gross profit in the branch adjustment account is transferred to the branch____________
If the purchase price exceeds the net assets of a company, the excess amount is debited to________________