A loss made on the disposal of a fixed assets is debited ...
A loss made on the disposal of a fixed assets is debited to
Sales account
Purchases account
Profit and loss account
Capital account
Correct answer is C
Loss on sale; Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset
1. Cash sales 11. Cash purchases 111. Cash discount allowed 1V. Cash payment V. Cash receipts ...
A rent ₦12,000 was paid by Taiwo to his landlord by cheque. The double entry in Taiwo's books ...
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 1...
Which of the following ratios gives an idea of the liquidity of a firm? ...
When goods are purchased on account, the accounting entries are ...
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The accumulated fund of a non-trading concern can equally be referred to as? ...
Which of the following errors are errors of commission? I. A cheque paid to Adam debited to Adam...