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What is a ledger entry for the sale of plant and machinery on credit to Wilson?
Which of the following is not a book of original entry?
The accounting ledger for goods sold on credit are debit
Which of the following is not a real account?
Goods returned to a supplier is
Assets acquired is recorded by debiting _______?
Purchase invoice is first entered in the
Which of the following is the equation for determining net profit or loss from the records of a firm?
Which of the following is not a feature of accounting information?
Which of the following describes a trial balance?
Sai Baba made sales of N10,000 having computed his gross profit % to sales to be 20. His opening stock was N250 and ending stock is N200. Calculate his purchases.
Use the information below to answer this question.
\(\begin{array}{c|c}
\text{Raw materials jan.} & 5,000 \\
\hline
\text{Raw materials dec.} & 5,800 \\
\hline
\text{Purchase of raw materials} & 45,000 \\
\hline
\text{Salary} & 61,000 \\
\hline
\text{Factory lubricant} & 2,050 \\
\hline
\text{plant depreciation} & 1,300 \\
\hline
\text{Factory insurance} & 1,250 \\
\end{array}\)
The prime cost for the company is