Accounting

The debtors balance to be shown in the Balance Sheet on 31st December, 1998 is?

Use the following information to answer the given question #  Debtors (1/1/98) 2,000  Debtors (31/12/98) 1,250 Cash received from debtors…

5 years ago

Assuming a gross profit of N3,000. What was the net profit?

Use the following information to answer the given question #  Debtors (1/1/98) 2,000  Debtors (31/12/98) 1,250 Cash received from debtors…

5 years ago

What was the amount of sales for the year?

Use the following information to answer the given question #  Debtors (1/1/98) 2,000  Debtors (31/12/98) 1,250 Cash received from debtors…

5 years ago

Carriage outwards is charged to?

A. credited to the trading account B. debited to the profit and loss account C. credited to the profit and…

5 years ago

Discount received is?

A. credited to the trading account B. debited to the Profit and Loss Account C. credited to the Profit and…

5 years ago

Item in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include?

A. bank charges B. standing order C. presented cheque D. interest overdraft Correct Answer: Option C - presented cheque

5 years ago

Errors in the ledger can be corrected through?

A. journal proper B. sales day book C. purchases day book D. control account Correct Answer: Option A - journal…

5 years ago

What is the prime cost _____?

use the following information to answer the given question # Opening stock: -raw materials 6,500  -work-in-progress 2,500 Closing Stock: -…

6 years ago

What is the cost of production?

use the following information to answer the given question # Opening stock: -raw materials 6,500  -work-in-progress 2,500 Closing Stock: -…

6 years ago

What is the cost of raw materials consumed?

use the following information to answer the given question # Opening stock: -raw materials 6,500  -work-in-progress 2,500 Closing Stock: -…

6 years ago