Use the following information to answer the question belowCost of raw materials available------32,000
Manufacturing wages -----10,000
Factory expenses-----5,000
Royalty-------3,000
Factory rent ------2,000
Depreciation o…
See more
2019
A feature of government accounting is that the
See more
2019
Interim dividend paid in a year is
See more
2019
Uncredited cheques refer to cheques not yet credited
See more
2019
An effect of increase in the provision for depreciation is
See more
2019
The partner whose liability goes beyond his capital is a
See more
2019
Where there is provision for depreciation, fixed asset is shown in the balance sheet ati.cost less depreciation for the period only.
ii. cost less total depreciation to date.
iii. written down values
See more
2019
Debtors Control Account is kept in the
See more
2019
Interest on drawings amounted to
See more
2019
Use the following information to answer the question belowAjem and Ogah were in partnership sharing profits and losses in the ratio 2:3. Interest on capital and drawings were 5% and 3% respectively. The following details…
See more
2019
Use the following information to answer the question belowAjem and Ogah were in partnership sharing profits and losses in the ratio 2:3. Interest on capital and drawings were 5% and 3% respectively. The following details…
See more
2019
Sulah took two textile materials worth N500 from his business for his children's use. This would be treated as
See more
2019
Companies issue shares to the public in order to
See more
2019
When bank charges are deducted from a customer's account, the balance on the bank statement would be
See more
2019
Where fixed capital account is maintained, partnersShare of profit is transferred to the
See more
2019
When closing stock is undervalued, the cost of goods sold would be
See more
2019
Goods bought from Sanmah for Le1,600 was entered into Shamail's Account.This is an error of
See more
2019
In a single-entry accounting, purchases are ascertained using a
See more
2019
Use the following information to answer the question belowOpening capital ---10,800
Drawings----------- 2,500
Trade creditors ----2,560
Trade debtors ------2,880
Cash in hand -------1,000
Net profit------------- 6,000The…
See more
2019
Use the following information to answer the question belowOpening capital ---10,800
Drawings----------- 2,500
Trade creditors ----2,560
Trade debtors ------2,880
Cash in hand -------1,000
Net profit------------- 6,000The…