N40
N48
N50
N80
Correct answer is A
No explanation has been provided for this answer.
N2
N0.80
N0.60
N0.50
Correct answer is D
No explanation has been provided for this answer.
When shares issued are paid for, accounting entry required is
Debit bank or cash account and credit share capital and/or premium account
Credit bank or cash account and debit share capital and/or premium account
Debit shares account and credit capital account
Credit shares account and debit capital account
Correct answer is A
No explanation has been provided for this answer.
Under which of the following conditions is a partnership dissolved?
Change of partnership's head office
Admission of a new partner
Purchase of a large quantity of fixed asset
Retirement of a manager who is not a partner
Correct answer is B
No explanation has been provided for this answer.
N32,000
N40,000
N42,000
N50,000
Correct answer is D
Equity is the same as capital. This is funds paid into a business by investors in exchange for common or preferred stock.
50,000 is Wamo's equity contribution.