A fixed assets fully written-down by a trader is now cons...
A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double entry required to reflect this is debit
Asset account credit purchase account
Asset account credit capital account
Capital account credit asset account
Capital account credit profit and loss account
Correct answer is B
Debit asset account with 5000 and credit capital account with 5000.
Cash discount received is shown in the i. Cash ii. Discount Received Account iii. Sup...
Use the following information to answer the given question. \(\begin{array}{c|c} & & N \\...
A balance of N102 on waged account was transferred as N120. This is error of ...
The correct entries to record goods transferred to branch from head office is to debit? ...
The head office usually issues goods to branches at ...
The recording phase of accounting is known as? ...