The corresponding entry of personal accounts found in the...
The corresponding entry of personal accounts found in the debit side of the cash is to
Credit real accounts
Debit real accounts
Credit the ledger
Debit the ledger
Correct answer is C
For every debit entry, there must be a corresponding credit entry. Hence we credit the ledger
Interest on a partner's drawings is debited to the ...
\(\begin{array}{c|c} & D\\ \hline \text{Construction of classrooms} & 500,000\\ \text{Sinkin...
Given: Calculate the surplus income. ...
Goodwill is taken into account in partnership when ...
.........................31 Dec. 05........31 Dec. 06 Total fixed assets.........N7 800.............
Capital: opening balance 307,000 closing balance 342,000 Net profit for the period 121,600 Openin...
In the absence of a partnership deed, the act stipulates that ...
Use the following information to answer the given question \(\begin{array}{c|c} & Le \\ \hl...