The balance in the purchases ledger control account is
The balance in the purchases ledger control account is A. total purchases B. total sales C. the total…
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A business marked up its cost by 50%. This would mean a gross profit of
A business marked up its cost by 50%. This would mean a gross profit of A. 33(frac{1}{3})% on…
A sales for N2,570 was recorded in the day book as N2,750. The error committed…
A sales for N2,570 was recorded in the day book as N2,750. The error committed was A. compensating…
Which of the following would be posted to the proprietor’s capital account?
Which of the following would be posted to the proprietor’s capital account? A. gross sales B. gross profit…
The drawings account of a sole proprietorship is transferred to the
The drawings account of a sole proprietorship is transferred to the A. capital account B. debit side of…
A cheque for N400 drawn in favour of Jeje was posted to the credit of…
A cheque for N400 drawn in favour of Jeje was posted to the credit of his account. The…
Which of the following accounts belongs to the personal ledger?
Which of the following accounts belongs to the personal ledger? A. purchases account B. capital account C. machinery…
Which of the following accounts belongs to the private ledger?
Which of the following accounts belongs to the private ledger? A. drawing accounts B. premises account C. machinery…
The petty cash book can have
The petty cash book can have A. a debit balance only B. a credit balance only C. both…
Which of the following may have been recorded in the cash book and fail to…
Which of the following may have been recorded in the cash book and fail to appear in the…