In the head office ledger, the value of goods sent to the...
In the head office ledger, the value of goods sent to the branch are
Debited to the head office current account
Debited to the branch current account
Credited to the head office current account
Credited to the branch current account
Correct answer is B
Goods sent to branch is recorded at the debit side of the branch stock account. Goods returned to head office and closing stock is shown at the credit side of this account. The excess of debit over credit is shortage. The excess of credit over debit is surplus.
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The petty cash account has an imprest of GH¢36,000 and a debit balance of GH¢10,000 at the...
Use the following information to answer the question Use the following information to answer th...
Which of the following shows the stock at the start of an accounting period? ...
\(\begin{array}{c|c} & Dr & Dr & \text{Balance}\\ \hline & ₦ & ₦ & ₦ \...
Given: Capital at start.......................N3250 Capital at close .....................N6250 A...