A trader paid N15,000 on rent for 15 months but charged N12,000 to the profit and loss Account for the year. This is the concept of Posted on:
When shares are oversubscribed, the promoters may decide to scale down. When this is done, the shares are issued proportionately Posted on:
The capital sum which represents the difference between he asset and liabilities of a society or club is Posted on:
An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. Profit on sale is Posted on:
