Which of the following is added to the proprietor's c...
Which of the following is added to the proprietor's capital?
Net profit
Gross profit
Net sales
Gross sales
Correct answer is A
Net profit is the actual profit after working expenses not included in the calculation of gross profit have been paid. That is, it is the profit after expenses have been deducted from gross profit. It makes up part of the business capital called plough-back profit.
Lighting..................N2925 Rent......................N2640 Salary....................N4050 ...
Balance as par overdraft of the cashbook is ₦4000 ,uncredited cheque is ₦2300, bank charges ₦3...
Given: Depreciation of plant and machinery N1,600 Factory rent N650 Indirect wages N695 General ...
Which of the following accounts is debited when a delivery van is sold for cash? ...
Which of the following has a debit balance? i. calls-in-arrears ii. cash-in-advance i...
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock} & 1,800\\ \text{Closing stock} &am...
The accounting convention that state that, stock should be value that the lower of cost and net...
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...