The excess of net assets acquired over purchase consideration is
Capital reserve
Goodwill
Purchase price
Discount
Correct answer is A
No explanation has been provided for this answer.
N29,500
N26,000
N25,500
N24,000
Correct answer is B
Sales = Sales ledger balance at the beginning + Cheque received from customers
2000 + 24000 = 26,000
Income received in advance is treated in the balance sheet as a
Current liability
Current asset
Long-term liability
Fixed asset
Correct answer is A
No explanation has been provided for this answer.
N112,500
N105,000
N97,500
N37,500
Correct answer is A
No explanation has been provided for this answer.
The internal users of accounting information are the
Creditors
Employees
Investors
Customers
Correct answer is B
No explanation has been provided for this answer.