A debit balance of N420 on the purchase ledger control ac...
A debit balance of N420 on the purchase ledger control account means that as at that date............
Trade creditors have been paid by N420
Trade creditors are owed N420
Goods returned to trade creditors amounted to N420
Total supplies from trade creditors amounted to N420
Correct answer is A
The purchase ledger control account is part of the balance sheet and shows at any given time how much you owe to your suppliers. It is credited if its balance increases & debited if its balance decreases.
The concept which states that assets are not to be recorded at their current market value is ...
The fund in which all government receipt are paid is? ...
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Pro...
Given: Cash book balance- #5000 Dishonored cheque- #1000 Direct credit - #800 Direct debit - #50...
Expenses incurred when incorporating a company are ...
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...
\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditor...