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The instrument used in analysis and interpretation of financial statement is the
The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a
One of the objectives of accounting is that it can be used for
Departments K Y
Opening 2,500 800
Purchases 120,000 100,000
Sales 180,000 200,000
Salary 8,000 30,000
Closing stock 3,000 1,500
Rate expenses of 1,500 are apportioned in the ratio 1:2
The gross profit for K is
The major advantage of the journal proper is that it
The records of Superstores shows a loan of #14,000 from Bala,creditor #8,000 and assets #190,500. What is the firm's capital?