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.
Accrual accounting differs from cash accounting because it recognizes? ...
The source document sent by the seller to the buyer when goods are returned is ...
In single entry and incomplete records, the net assets method used to ascertain profit is ...
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock:} & \\ \text{- raw materials} & 6...
PQ Manufacturing Company Raw materials (1/11/2001)...........N3 500 Raw materials (31/12/2001).....
The concise statement used to explain entries in the general journal is known as ...
Which of the following is a not revealed by a firm's accounting records? ...