Which of the following is found on the credit side of a p...
Which of the following is found on the credit side of a profit and loss account?
Advertising
Dividend received
Wages and salaries
Bank charges
Correct answer is B
Dividend received as as revenue i.e income or money received in trading transactions. It is credited to the profit or loss account.
Where closing stock is undervalued, the effect is? ...
One of the limitations of accounting is that ...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...
On the 30/5/93 Tolu & Co. paid 2 years rent of N50,000 which was debited to the rent account.&nb...
Calls in advance are treated in the balance sheet as______ ...
Expenditure incurred to maintain an asset's earning capacity is called ...