Memoradum branch account is prepared to determine
...Memoradum branch account is prepared to determine
gross profit
credit sales
closing stock
opening stock
Correct answer is A
Memorandum branch account or double column method is prepared to determine the gross profit. They are purely memoradum entries and do not form part of the double entries.
Which of the following would be posted to the proprietor's capital account? ...
The principle of double entry system ensures? ...
Determine the value of closing stock using the LIFO method ...
The following appears in the trading account except ...
A statement that measures the performance of a business over a period of time is the ...