Jumoke and Kunle have an original investment of N25,000 and N15,000 respectively in a partnership. The articles of partnership provides…
A. partnership agreement B. Articles of association C. goodwill D. capital balances Correct Answer: Option D - capital balances
A. stock account and a credit to branch debtors' account B. discount account and a credit to branch bank account…
A. the same way as normal debtors' transactions B. in a different way from normal debtors' transactions C. as an…
A. manufacturing accounts B. consolidated accounts C. departmental accounts D. joint venture accounts Correct Answer: Option C - departmental accounts
A. current assets B. current liability C. capital D. reserve Correct Answer: Option B - current liability
A. deflicit B. surplus C. gain D. loss Correct Answer: Option A - deflicit
On January 1,2000, a club's assets and liabilities were as follows: Club house...................N8,000 Subscription.................N300 Cash.........................N1,000 Wages owed...................N100 The club has…
On January 1,2000, a club's assets and liabilities were as follows: Club house...................N8,000 Subscription.................N300 Cash.........................N1,000 Wages owed...................N100 The club has…
Materials consumed...................N16,600 Direct cost..........................N5,400 Factory rent.........................N2,300 Factory lighting.....................N1,200 Cost of production to be transferred at cost plus 20% mark-up. A.…