Capital and drawings accounts are kept in the
General ledger
Purchases ledger
Sales ledger
Private ledger
Correct answer is D
No explanation has been provided for this answer.
$25,000
$415,000
$12,000
$7,000
Correct answer is C
No explanation has been provided for this answer.
$57,000
$45,000
$42,000
$39,000
Correct answer is C
No explanation has been provided for this answer.
A feature of government accounting is that the
Fixed assets are depreciated
Objective is to report profit made by the government
Accounts are prepared on accrual basis
Accounts are prepared on cash basis
Correct answer is B
No explanation has been provided for this answer.
Interim dividend paid in a year is
Debited to the Income Surplus Account/ Profit and Loss Appropriation Account
Credited to the Income Surplus Account Profit and Loss Appropriation Account
Debited to the Profit and Loss Account
Credited to the Profit and Loss Account
Correct answer is A
No explanation has been provided for this answer.