Calculate the surplus income.
A. N45 000 B. N44 000 C. N30 000 D. N14 000 Correct Answer: Option D – N14 000
If the discount allowed is 2.5% of sales; calculate the closing balance in the sales ledger account.
A. N 1400 B. N6 600 C. N16 600 D. N18 600 Correct Answer: Option A – N 1400
If cheques of N40000 were received but a cheque of N8000 was dishonoured; the amount owed was?
A. N9 000 B. N20 000 C. N 1000 D. N17 000 Correct Answer: Option C – N 1000
A sole trader purchased goods in cash worth N2000 at 2% discount and made a cash sale of N1000 at the same rate of discount. Determine the amount of discount allowed?
A. N20 B. N40 C. N400 D. N200 Correct Answer: Option A – N20
Calculate the total amount on the credit side of the trial balance?
Given: Bank overdraft…………..N2000 Cash……………………N2000 Furniture……………….N4000 A. N4000 B. N2000 C. N6000 D. N8000 Correct Answer: Option B –...Products
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