Accounting Questions and Answers

Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including?

In reconciling the branch and head office accounts, remittance in transit in the branch books is treated as a?

The head office of Emeka Stores maintains the financial accounts of all its branches. The branch store account in the head office serves as the branch?

The movement of goods from head office to a branch is treated in the in the head office accounts as?

A company incurred N21 000 in running its four departments, namely J,K,L and M with a corresponding number of employees as 1500, 2000, 3000 and 500 respectively. What is the share of department K?