Salaries in arrears is treated in the balance sheet as a<...
Salaries in arrears is treated in the balance sheet as a
Current asset
Current liability
Fixed asset
Long term liability
Correct answer is B
Current Liability: salaries in arrears fall into the category of them under the current liability because it is benefit due to outsiders but still enjoying by the organisation and can't exceed a year
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...
In converting a to a partnership company, the loss on asset revaluation is? ...
The effect of transaction when cash is paid into the bank is ...
Incomplete Record (Extract) Sales......................................N10,600 Rent................
Bello withdraws cash from bank to office, this is called ---------- entry ...
.........................31 Dec. 05........31 Dec. 06 Total fixed assets.........N7 800.............
In preparing accounting records, the owner of a business and the business are treated as ...