Which of the following is not on debtor's legal control account?
Credit sales
Cash sales
Bills receivable
Dishonoured cheque
Cash received from customers
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not a balance sheet item?
Provision for discount
Outstanding wages
Prepaid rent
Proposed dividend
Dividend received
Correct answer is E
No explanation has been provided for this answer.
Discount
Profit
Loss
Premium
Reserve
Correct answer is D
No explanation has been provided for this answer.
N30,500
N25,300
N20,000
N15,800
N14,800
Correct answer is E
No explanation has been provided for this answer.
When provision is made for doubtful debt, the accounting entries are debit
Profit and loss account, credit debtors account
Debtors account, credit trading account
Profit and loss account, credit sales account
Trading account, credit debtors account
Profit and loss account, credit provision for doubtful debt account
Correct answer is A
No explanation has been provided for this answer.