Marhumu and Yusuf are in partnership sharing profits and losses in the ratio of 2:1. On 31/3/2000, the partnership decided…
A. trading account B. current account C. capital account D. partners' account Correct Answer: Option B - current account
A. accumulated fund B. profit and loss account C. current assets in the balance sheet D. current liabilities in the…
A. N24,000 B. N22,000 C. N14,000 D. 8,000 E. NO OPTION INDICATED Correct Answer: Option E - NO OPTION INDICATED
A. direct materials B. indirect materials C. indirect expenses D. direct expenses Correct Answer: Option C - indirect expenses
Bar opening stock N10,000 Amount owed to bar suppliers at the end the beginning of the year N10,000 Bar sales…
Bar opening stock N10,000 Amount owed to bar suppliers at the end the beginning of the year N10,000 Bar sales…
Given: Direct material N2,500 Direct labour N5,000 Direct expenses N1,000 Overhead expenses N1,500 A. N8,500 B. N7,500 C. N6,500 D.…
Given: 31/12/98 31/12/99 Assets: Plant and Mach. N1,500 N1,200 Fixtures N700 N520 Stock N500 N600 Debtors N900 N400 Cash N200…
Purchases ledger opening balances N4,000 Sales ledger opening balances N6,000 Credit purchases during the year N25,000 Discounts allowed N1,000 Returns…