Aminu and Sons credit purchases (Extract] as at February ...
Aminu and Sons credit purchases (Extract] as at February 1996.
Feb 1Credit balances 40, 000
Debit balances 1, 000
Feb 28 Purchases journal totals 500,000
Returns outwards journal totals 50,000
Cheques paid to suppliers 400,000
Promissory notes sent to suppliers 30,000
Credit balance in the purchases ledger set off against debit balances in the sales ledger 2000
The Total for the purchases ledger control account is
N480,000
N490,000
N500,000
N540,000
Correct answer is D
No explanation has been provided for this answer.
A business transaction is recorded in the books of account when the ...
Bad debts written off is shown as ...
A business is required at par when the ...
Beauty started business with ₦40,000, made a profit of ₦50,000 and ended the year with ₦70,000...
\(\begin{array}{c|c} \text{Net profit} & 60,000 \\ \hline \text{Total assets} & 520,000 \\ \...
The balance of the pretty cash book should be ...