Determine the owners equity A N200,000 B N 215,000 C N275,000 D N755,000 Answer is C
Use the information below to answer the question The quick ratio is A 0. 82: 1 B 0. 91:1 C 0.95:1 D 1:53:1 Answer is D
Use information below to answer this question. Capital: opening balance 307,000 closing balance 342,000 Net profit for the period 121,600 Opening stock 98,800 Purchases 706,000 Carriage inwards 17,500 Cost of goods sold 740,700 Total selling , general and administration expenses …
Use information below to answer this question. Capital: opening balance 307,000 closing balance 342,000 Net profit for the period 121,600 Opening stock 98,800 Purchases 706,000 Carriage inwards 17,500 Cost of goods sold 740,700 Total selling , general and administration expenses …
Given: Total cash received from debtors 30,000 Total purchases for the period 21,000 Amount owed by debtors at the beginning of the period 4,000 Equipment bought 2,500 Amount owed by debtors at the end of the period 3,000 Determine the …
Use the information to answer the question Aminu and Sons credit purchases (Extract] as at February 1996. Feb 1Credit balances 40, 000 Debit balances 1, 000 Feb 28 Purchases journal totals 500,000 Returns outwards journal totals 50,000 Cheques paid to …
Use the information to answer the question Aminu and Sons credit purchases (Extract] as at February 1996. Feb 1Credit balances 40, 000 Debit balances 1, 000 Feb 28 Purchases journal totals 500,000 Returns outwards journal totals 50,000 Cheques paid to …
The conventional sources of public revenue includes? A loans,taxation, foreign reserves and dividends B interest, royalties, taxation and loans C crude oil, interest, posted price and taxation D taxtion, deficit budgeting, royalties and loans Answer is B
Which of the following account is kept by local governments in Nigeria? A Balance sheet B Advances account C Debtors account D Profit account Answer is B
Capital and revenue expenditures of government are usually accounted for under funds which include? A A personal advances, technical, special trust and B technical, special trusth and commercial funds C personal advances, treasury clearance and special trusth funds D commercial …
What is the correct entry in the head office books at the point of initial transfer of the goods? A Branch stock account would be credited with B Branch stock account would be debited with N12,000 C Goods sent to …
Use the information below to Answer questions 46 and 47. Among Limited invoiced goods at a cost of N10,000 to its Ikeja branch at a marginal of 20%. The branch later returned goods worth N1,200 at invoice price to the …