The net profit from a trading account of a non-profit making organization would be treated as income in the Posted on:
The major difference between the receipt and payment account and the income and expenditure account is that while the former Posted on:
From which of the following sources are creditors control account most likely to be posted? Posted on:
Beginning and ending accounts receivable balances were N8,000 and N15,000 respectively. If collections from customers during the period were N36,000, then total sales on account would be Posted on:
If a bad debt previously written off is subsequently repaid, the amount collected is recorded as an Posted on:
The financial position of an organization at a particular time can be ascertained from the Posted on:
When preparing a bank reconciliation statement, which of the following is deducted from the balance per bank statement? Posted on:
The discount column of a three column cashbook is not balanced off but periodically transferred to the discount account because discounts Posted on:
