The cost of goods sold for the year is Le200,000 and the mark-up is 30%. The sale for the year is
Le260,000
Le200,000
Le140,000
Le60,000
Correct answer is A
No explanation has been provided for this answer.
A transaction that would cause the cash book balance to be less than the bank statement balance is
Direct debit
Standing order
Bank charges
Unprecedented cheques
Correct answer is D
No explanation has been provided for this answer.
Suspense account is used in the correction of
All errors in the trial balance
Errors that affect the agreement of a trial balance
Errors that do not affect the agreement of a trial balance
Errors that affect the accuracy of the net profit
Correct answer is B
No explanation has been provided for this answer.
Current asset of GH¢36,000
Current asset of GH¢12,000
Current liability of GH¢12,000
Current liability of GH¢48,000
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer this question
GH¢ Rent expense for 2018 was
Monthly rent payable 3,000
Rent paid on 01/01/2018 48,000
GH¢84,000
GH¢48,000
GH¢36,000
GH¢12,000
Correct answer is C
No explanation has been provided for this answer.