|
₦ |
|
|
Debtors opening |
4000 |
| Debtors closing | 1500 |
|
Cash received from debtors |
8500 |
|
Bad debts written off |
350 |
| Discount allowed | 500 |
| Discount received | 1000 |
What is the amount of sales for the year?
₦6850
₦6650
₦3850
₦1550
Correct answer is A
The amount of sales for the year is calculated using the formula: Opening Debtors + Sales - Cash received from debtors - Closing Debtors + Bad debts written off + Discount allowed - Discount received. Plugging in the given values, we get: 4000 + Sales - 8500 - 1500 + 350 + 500 - 1000 = Sales. Solving for Sales, we get Sales = 6850.
Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the pe...
The item on the credit side of the trading account is the? ...
Total production cost- #360,000 Factory overhead cost- #56,000 Selling price per unit- #120 Produ...
The assets of business can be classified broadly into ...
A loss made on the disposal of a fixed assets is debited to ...
Use the following information to answer the given question BOUGHT LEDGER CONTROL ACCOUNT: \(\beg...
Receipts and Payment Account (Extract) &nbs...
Which of the following best described the path of a transaction? ...