Osa started business with Le 40,000 cash. The accounting ...
Osa started business with Le 40,000 cash. The accounting entry is debit
Cash account; credit capital account
Capital account; credit cash account
Purchases account; credit cash account
Expenses account; credit capital account
Correct answer is B
Debit capital account (i.e the money used in starting a business) and credit cash
Expenses accured at the end of the accounting year is treated in the balance sheets as ...
Which of the following is related to debtors account? ...
An agreement made by partners to regulate and govern their business activities is known as ...
LOAN IS 30% OF CREDITORS. A company has departments S,T and U. The sales are N20,000,20,000, N40,...
Interest on partners drawings are debited in the ...
The sum of direct cost in a manufacturing account is ...
Trading Account (Extract) .................N.............................N...... Opening stock.....
In the period of rising prices, which method of stock valuation is most appropriate? ...