In the head office ledger, the value of goods sent to the branch are
Debited to the branch current account
Debited to the head office current account
Credited to the head office current account
Credited to the branch current account
Correct answer is B
No explanation has been provided for this answer.
The major feature of a journal is that it has
Five columns, date, particulars, folio, debit and credit
Three columns, date, particulars, folio and amount
Six columns, date. particulars, folio, amount debit and credit
Four columns, date, particulars, folio and amount
Correct answer is A
A typical journal entry usually has four columns: the date of the transaction, the particulars, and columns for the debits and credits.
Sometimes, the folio column can be included, but is it not a compulsory requirement.
Commission paid
Interest received
Direct withdrawal
Direct payment
Correct answer is D
No explanation has been provided for this answer.
Use the information below to answer this question
₦1800
₦800
₦2600
₦600
Correct answer is B
No explanation has been provided for this answer.
Use the information below to answer this question
₦3000
₦9400
₦3400
₦6000
Correct answer is A
capital = total assets - liabilities
2000 + 4000 - (1200 + 2000)
6000 - 3200 = 2800
2800 + 200 (drawings) = 3000