A. N22 320 B. N17 200 C. N12 080 D. 5 120 Correct Answer: Option C - N12 080
A. Discount received B. Dishonoured cheques C. Credit sales D. Bills receivable Correct Answer: Option C - Credit sales
Given: purchases ledger balance..............N4000 purchases for the period..............N50000 Cash refunded by suppliers............N290 Cheques paid to suppliers..............N42300 Returns outwards.......................N2000 Discount received…
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line…
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line…
A. drawings B. purchases C. sales D. capital Correct Answer: Option B - purchases
Given: ...............................Jan. 2003.........Dec. 2003 Provision for bad debt........N1000 Debtors..........................................N20000 Bad debt to be written off.......................N2000 A. N800 B. N1000 C.…
A. gross profit B. total profit C. net profit D. total revenue Correct Answer: Option A - gross profit
A. debit side B. credit side C. folio column D. memorandum column Correct Answer: Option A - debit side
Five hundred naria monthly is allowed on an imprest system. The following transactions took place. Period1: Cash advanced to petty…