............................31/12/07.......31/12/08
...
............................31/12/07.......31/12/08
Stocks........................N4,200.........N3,900
Rates in advance..............N1,000.........N1,500
Accrued wages.................N1,150.........N1,350
Cost of goods sold was valued at N6,000.
Cash paid for rates and wages during the year was N1,300 and N2,200 respectively.
What is the value of purchases for the year 2008?
N6,000
N9,900
N14,100
N5,700
Correct answer is D
opening stock = 4200
closing stock = 3900
cost of goods sold = 6000
purchase = opening stock - closing stock - cost of goods sold
4200 - 3900 = 300
6000 - 300 = 5700
Receipt and payments: 31st December 2016 Cash at bank------460 Ne...
The cash bass of accounting requires the recognition of revenue only when they are ...
Which of the following concepts recognizes the principle of double entry? ...
The use of the folio in the ledger is for ...
In a public corporation, the capital expenditure incurred in a financial period is? ...
Which of the following belongs to the sales ledger? ...
Which of the following accounting records are source documents? ...