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An increase in provision for doubtful debts would result in
A unit of a company capital is?
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A trader bought goods worth #16,000 and sold three-quarter of it for #20,000
The margin would be
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A trader bought goods worth #16,000 and sold three-quarter of it for #20,000
The gross profit is
The user of accounting information who is responsible for overall performance of the business is the
One of the items on the credit column of a trial balance is
Use of following information to answer questions below
| D | |
| Motor vehicle | 500000 |
| Stock | 35000 |
| Debtors | 18000 |
| Cash | 12850 |
| Bank overdraft | 280000 |
| Creditors | 21500 |
The total current liability is
Use of following information to answer questions below
| D | |
| Motor vehicle | 500000 |
| Stock | 35000 |
| Debtors | 18000 |
| Cash | 12850 |
| Bank overdraft | 280000 |
| Creditors | 21500 |
The total current asset is
Use of following information to answer questions below
| D | |
|
Motor vehicle |
500000 |
|
Stock |
35000 |
|
Debtors |
18000 |
|
Cash |
12850 |
|
Bank overdraft |
280000 |
|
Creditors |
21500 |
The capital is
The cost of goods sold for the year is Le200,000 and the mark-up is 30%. The sale for the year is
A transaction that would cause the cash book balance to be less than the bank statement balance is
Suspense account is used in the correction of
Use the following information to answer this question
GH¢
Monthly rent payable 3,000
Rent paid on 01/01/2018 48,000
The balance of rent in the balance sheet would be
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GH¢
Monthly rent payable 3,000
Rent paid on 01/01/2018 48,000
Rent expense for 2018 was
Accounting concepts are rules of accounting which are to be
Provision is made in the accounts when the amount involved in the anticipated loss is
Wages accrued is shown in the balance sheet as
Use the following information to answer this question.
Cost of assets (01/01/18) ₦ 600,000. Annual depreciation charge is 15% on reducing balance basis.
The net book value of the asset at 31/12/19 is
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Cost of assets (01/01/18) ₦ 600,000. Annual depreciation charge is 15% on reducing balance basis.
Depreciation for the year 2019 is
Acid test ratio of a firm measures the