Cost of rent as an expense can be apportioned to all depa...
Cost of rent as an expense can be apportioned to all department on the basis of:
No of employees
Stock value
Space occupied
Wages
Correct answer is C
Indirect expenses are allocated among departments in order to ascertain the profits or loss made by each department.
Given: Determine the balance ...
The accounting system in which only one aspect of transaction is recorded is ...
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...
Mr. B sod goods worth N200 on credit to Mr. C. Mr. B should debit this to ...
Where there is no agreement between the partners, the Partnership Act states that ...
Given: Light expenses...................N400 Purchases........................N3,000 Sales..........
Use the following information to answer the question \(\begin{array}{c|c} & Ade & Bola\\ &a...