The accounting convention which states that profit must not be recognized until realized while all losses should be adequately provided for it termed Posted on:
Assigning revenues to the accounting period in which goods were sold or services rendered and expenses incurred is known as Posted on:
Interest on capital is 10%, the net profit for the year is N40,000. Baba’s Current Account balance on 31st December, 2000 is Posted on:
Interest on capital is 10%, the net profit for the year is N40,000. Tunde’s Current Account balance on 31st December, 200 is Posted on:
Interest on capital is 10%, the net profit for the year is N40,000. The shares of profit of each partner is Posted on:
Interest on capital is 10%, the net profit for the year is N40,000. The interest on Tunde’s capital is Posted on: