Discount recieved account and credit Alaka's account
Alaka's account and credit discount recieved account
Saka's account and credit discount recieved account
Discount allowed account and credit Alaka's account
Correct answer is D
Debit cash account and credit discount allowed account
The corresponding entry of personal accounts found in the debit side of the cash is to
Credit real accounts
Debit real accounts
Credit the ledger
Debit the ledger
Correct answer is C
For every debit entry, there must be a corresponding credit entry. Hence we credit the ledger
Which of the following items is a capital expenditure?
Maintenance of office machine
Purchase of office stationery
Carriage inwards
Purchase of office machinery
Correct answer is D
Capital expenditures are money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment.
The major source document which enables an employer to calculate the employee wages is the
Nominal roll of employees
Record of number of hours worked
Effort of the employee
Record of number of dependants per employee
Correct answer is B
No explanation has been provided for this answer.
The total credit sales for a period can be extracted from the
Cash book
Sales day book
Petty cash book
Returns inwards
Correct answer is B
The sales day book is a manually-maintained ledger in which is recorded the key detailed information for each individual credit sale to a customer, including the following: Customer name. Invoice number. Invoice date. Invoice amount