Sales ledger control account contains the total amount in respect of
Creditors
Debtors
Investors
Shareholders
Correct answer is B
No explanation has been provided for this answer.
Why are adjustments in the profit and loss account necessary?
To cover some expenses of the following year
To ascertain the actual expenses incurred and income earned during the year
To show the provision made during the year
To show the total expenses paid and income received during the year
Correct answer is B
No explanation has been provided for this answer.
N1,680 Dr
N1,080 Cr
N600 Dr
N480 Cr
Correct answer is D
No explanation has been provided for this answer.
N13,000
N12,100
N12,000
N11,200
Correct answer is B
No explanation has been provided for this answer.
John: N40 Dr, cash: N40 Cr
Cash: N40 Dr, John: N40 Cr
John: N20 Dr, cash: N20 Cr
Cash: N20 Dr, John: N20 Cr
Correct answer is C
No explanation has been provided for this answer.