Memoradum branch account is prepared to determine
...Memoradum branch account is prepared to determine
gross profit
credit sales
closing stock
opening stock
Correct answer is A
Memorandum branch account or double column method is prepared to determine the gross profit. They are purely memoradum entries and do not form part of the double entries.
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...
The chief accounting officer of a local government is the? ...
Use the following information to answer the given question: \(\begin{array}{c|c} & N \\ \hl...
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \t...
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120...