WAEC Past Questions and Answers - Page 996

Which of the following serves the same purpose as a Trading Account?

When a share is sold for less than its nominal value, the difference is called

A business whose assets consisted of stock N15,000 and debtors N8,000 was bought by issuing 20,000 ordinary shares of N1 each at a premium of 20 percent.

The amount of goodwill was

A business whose assets consisted of stock N15,000 and debtors N8,000 was bought by issuing 20,000 ordinary shares of N1 each at a premium of 20 percent.

The purchase consideration was

Rent receivable is a