The cost of putting goods into a saleable condition is ch...
The cost of putting goods into a saleable condition is charged to
Balance sheet
Trial balance
Profit and loss account
Trading account
Correct answer is C
Profit and loss account is an account in the books of an organization to which incomes and gains are credited and expenses and losses debited, so as to show the net profit or loss over a given period. It includes the cost of materials both direct and indirect that were used up in the production process to convert the product into a saleable and consumable goods.
One of the components of factory overhead is............ ...
Purchases in accounting refers to goods bought for ...
Which of the following is recorded in the folio column of the journal? ...
Le Capital (01/01/2020) 1,93...
In the absence of partnership agreement, a loan by a partner attracts interest at ...
Dairo and Segun are in partnership sharing profits and losses in the ratio 2:3 respec...
An entry in a subsidiary book which does not form part of the double entry system is a ...
The purchases ledger control account is also known as ...
When an asset is sold, the entries for the accumulated depreciation are; debit ...
Which of the following errors will affect the totals of a trial balance? ...