The discount column of a three column cashbook is not balanced off but periodically transferred to the discount account because discounts Posted on:
Mallam Gambo bought a freezer for his shop costing N10,500. In recording, he debited office expenses account and credited the bank account. What book-keeping error has he committed? Posted on:
Antics Electronic Company recently bought six generators. Which of the following is the correct method of recording this transaction? Posted on:
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:
