Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The…
Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The…
A. partners' salaries B. interest on capital C. partners' drawings D. interest on loans Correct Answer: Option D - interest…
A. debit entry B. credit entry C. contra entry D. reversal entry Correct Answer: Option C - contra entry
A. debtors' account B. trading account C. expenses account D. cash account Correct Answer: Option D - cash account
A. sales B. issue C. purchase D. requisition Correct Answer: Option C - purchase
A company incurred N21 000 in running its four departments, namely J,K,L and M with a corresponding number of employees…
A. previous year's transactions B. daily profits C. workers' performances D. management performances Correct Answer: Option C - workers' performances
A. debit side of its profit and loss account B. credit side of its profit and loss account C. debit…
A. bar sales B. subcriptions C. rents D. pools Correct Answer: Option B - subcriptions