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.
When a transaction is completely left out from the books, it is an error of ...
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Balance as per cashbook} & 5 467 \\ \hline \...
Provision for bad and double debts in companies final accounts is treated in? ...
Which of the following is found in a receipts and payments account? ...
A real account is the account of ...
Which of the following is nit a petty cash book item? purchase of ...
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Stock Jan 1} & 2000 \\ \hline \text{Purchase...
\(\begin{array}{c|c} & N\\ \hline \text{Land and building} & 20,000\\ Stock & 5,000\\ \t...