Branch stock adjustment account is prepared at?
...Branch stock adjustment account is prepared at?
Cost price
New price
Invoice price
Normal price
Correct answer is C
Branch stock adjustment account deals with the loading on the respective items of goods relating to Branch stock account.
Branch adjustment account is prepared at invoice price.
The difference between the two sides of this account reveals either gross profit (if credit side is greater than the debit side) or gross loss (if debit side is greater than the credit side).
Given: cash book item: Paid to suppliers N10,800 Expenses paid N6,900 Drawings made N900 Balanc...
Cash purchase - D 29,641 Creditors 1/1/14 - D 2,473 Creditors 31/12/14 - D 3,117 Cash paid to cre...
The balance of the sales ledger control account represents ...
The main objective of bookkeeping is to record economic? ...
Discount allowed would appear on the ...