Accounting

The corresponding entry of personal accounts found in the debit side of the cash is to?

A. credit real accounts B. debit real accounts C. credit the ledger D. debit the ledger Correct Answer: Option C…

5 years ago

Which of the following items is a capital expenditure?

A. Maintenance of office machine B. Purchase of office stationery C. Carriage inwards D. Purchase of office machinery Correct Answer:…

5 years ago

The major source document which enables an employer to calculate the employee wages is the?

A. nominal roll of employees B. record of number of hours worked C. effort of the employee D. record of…

5 years ago

The account of government into which all monies are received and from which all expenditures are disbursed is the?

A. Federation account B. Petroleum Technology Development Fund C. Central Bank Account D. Development fund Correct Answer: Option A -…

5 years ago

The book value of issued share capital is?

Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment…

5 years ago

Determine the amount received on application and allotment?

Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment…

5 years ago

The total credit sales for a period can be extracted from the _______?

A. cash book B. sales day book C. petty cash book D. returns inwards Correct Answer: Option B - sales…

5 years ago

The double entry for July 31 would be?

July 1 - Started business with #10,500 July 31- Paid Agro machine x #6,000 owing them   A. debit Agromachinex…

5 years ago

The double entry for July 1 would be?

July 1 - Started business with #10,500 July 31- Paid Agromachinex #6,000 owing them A. debt capital and credit cash…

5 years ago

When the debit side total of an account; it means that the account has?

A. been overdrawn B. been understand C. debit balance D. credit balance Correct Answer: Option C - debit balance

5 years ago