Use the following information to answer the question below
Cheques received from trade debtors in 2016: 350,000
Payment made to trade creditors in 2016: 220,000
Credit purchase for 2016 is?
290,000
230,000
220,000
210,000
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer the question below
Cheques received from trade debtors in 2016: 350,000
Payment made to trade creditors in 2016: 220,000
Credit sales for 2016 is?
530,000
370,000
350,000
330,000
Correct answer is B
No explanation has been provided for this answer.
Trade debtors at the end of the year
Cash sales for the year
Credit sales for the year
Amount transferred from the sales journal
Correct answer is A
A sales ledger control account, also called trade debtors control, is the part of your balance sheet that displays how much your customers owe the company.
Use the following information to answer the question that follows
The total cost of production is
94,000
106,000
111,000
116,000
Correct answer is D
Total cost of production = Cost of labor + Cost of raw materials + Overhead costs on manufacturing.
64,000 + 30,000 + 22,000 = 116,000
Use the following information to answer the question that follows
Prime cost of production is?
N64,000
N94,000
N111,000
N116,000
Correct answer is B
Prime cost = Direct materials cost + Direct labor cost
64,000 + 30,000 = 94,000