Opening creditors was ₦65,000, closing creditors was ₦41,000. Credit purchases was ₦200,000 and discount received ₦3,000. How much was paid to creditors?
See more
2003
Rent owing by a business is shown in the
See more
2003
The cost of raw materials consumed is determined in the Manufacturing Account as
See more
2003
Use the following information to answer the given:\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & N & N \\ creditors & 4,200 & 5,200 \\ stocks & 3,600 & 3,200 \\ \text{cash…
See more
2003
Use the following information to answer the given question:\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & N & N \\ creditors & 4,200 & 5,200 \\ stocks & 3,600 & 3,200 \\ \t…
See more
2003
Which of the following items is found on he credit side of a sales Ledger Control Account?
See more
2003
Which of the following is not a credit item in the sales ledger control account?
See more
2003
Using the following information:\(\begin{array}{c|c} & N \\ \hline \text{club house} & 375,000\\ \text{Furniture} & 250,000\\ \text{Sport kit} & 400,000 \\ \text{subscriptions prepaid} & 10,000\\ \tex…
See more
2003
Which of the following is found in a receipts and payments account?
See more
2003
In a not-for-profit making organization, the cash book is summarized in the form of
See more
2003
A control account is
See more
2003
The account that shows both the cash and bank transactions of an enterprise is
See more
2003
Which of the following is a limitation of the money measurement concept?
See more
2003
The accounting concept that supports the application of double entry book-keeping is the
See more
2003
\(\begin{array}{c|c} & & N \\ \hline \text{capital accounts:} & Ojo & 40,000 \\ & Aina & 20,000 \\ \text{Drawings:} & Ojo & 10,000 \\ & Aina & 6,000 \\ \text{Interest on capital} &…
See more
2003
\(\begin{array}{c|c} & & N \\ \hline \text{capital accounts:} & Ojo & 40,000 \\ & Aina & 20,000 \\ \text{Drawings:} & Ojo & 10,000 \\ & Aina & 6,000 \\ \text{Interest on capital} &…
See more
2003
\(\begin{array}{c|c} & & N \\ \hline \text{capital accounts:} & Ojo & 40,000 \\ & Aina & 20,000 \\ \text{Drawings:} & Ojo & 10,000 \\ & Aina & 6,000 \\ \text{Interest on capital} &…
See more
2003
Which of the following documents set out the internal regulations of a partnership?
See more
2003
Which of the following brings a company into legal existence?