Kayode, Akpan and Kachalla are in partnership. Their respective capital accounts had the following balances: N40,000, N50,000 and N70,000. Posted on:
The major distinguishing element between the final accounts of a partnership and a sole trader is the Posted on:
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:
