On 1 June year 1, H paid an insurance invoice of N2,400 for the year to 31 May year 2. What is the charge to the income statement and the entry in the financial statement for the year ended 31 December year 1? Posted on:
An increase in inventories of N500 and a decrease in the bank balance of N600 and an increase in payables of N1,400 results in: Posted on:
An error of commission occurs where the entries required for a transaction are partially omitted. Posted on:
The receivables figure to be shown under current assets in the Statement of Financial position is Posted on:
During year 2016, Victor paid rent amounting to 500,000. He owed 50,000 at the beginning of the year and by 31 December 2016, he had paid rent in advance of 100,000. His rent charge for 2016 was? Posted on:
