Osei and Yabo were in partnership sharing profits and los...
Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid N30 000 for goodwill, this amount would be?
Credited to Takwa's current account
Debited to goodwill account
Share to all the partners' capital account
Credited to the old partners' capital account
Correct answer is B
No explanation has been provided for this answer.
The excess of income over expenditure is usually transferred to the ...
Which of the following describes a trial balance? ...
Nwoye buys stock and pays by cheque. The entries in the books of Nwoye is Debit ...
A major factor that enhanced the early development of accounting is the? ...
Sulah took two textile materials worth N500 from his business for his children's use. This would...
The process of detecting, tracing and eliminating errors in a computer program is ...
\(\begin{array}{c|c} & 1/7/10 & 30/6/11 \\ & D & D \\ \hline \text{Stock} & 1,46...
Which of the following items is found on the debit side of the trial balance? ...