J accounting 17

The authority warrant issued prior to the approval of the appropriate bill at the beginning of the year

Which of these accounts is dissolution expenses credited?

The following appears in trading account except

one of the options below is not the source of income for non- profit organization

The balance as per bank statement is

Goodwill can be created in the books of a partnership firm when

Which of these is the main source document for recording cash paid into bank?

The following are the importance of branch account except

Debtors opening ₦4000
Debtors closing ₦1500
Cash received from debtors ₦8500
Bad debts written off ₦350
Discount allowed ₦500
Discount received ₦1000
If the gross profit is ₦5 000, what is the net profit?

The accounting entries for goods stolen in branch will be to debit

One of the options below have the same features as the profit and loss account in
non-profit organization

Determine the amount of goodwill.

What is the effect of transaction when cash is paid into the bank

Subscription in advance is treated in the balance sheet as a

Which of these is the subsidiary book for return inwards?

The principle of double entry developed from the axioms of accounting equation is given as

When expenses are paid on behalf of the venture, the accounting entries is to debit

The current growth in the volume of trading and financial dealings in Nigeria is helped by?

You add the following when starting with the balance as per cash book when preparing the bank reconciliation statement except

Processed data is only useful to user if it is

Stock Jan ₦12600
Purchases ₦4000
Carriage inwards ₦500
Sales ₦9000
Carriage outwards ₦500
Determine the net profit.

An evidence of payment issued to a government ministry by a revenue collector is

the period of rising prices, which method of stock valuation is most appropriate?

Discount allowed is enjoyed by

The tier of government that uses financial memorandum is the?

The movement of goods from head office to a branch is treated in the in the head office accounts as?

Which fund is used to meet unforeseen or urgent expenditure

The account where the profit are distributed to the partner in their profit sharing ratio in partnership

A double entry for a transaction that offsets one amount against another on both sides of
the cashbook is a

Salaries in arrears is treated in the balance sheet as a

₦
Debtors opening 4000
Debtors clsoing 1500
Cash received from debtors 8500
Bad debts written off 350
Discount allowed 500
Discount Received 1000
What is the amount of sales of sales for the year?

A part of public company's profits belonging to the shareholders is

What is the main purpose of transaction file?

Changes can occur in partnership when:
I. partnership is dissolved
Ii. There is amalgamation of partnership
Iii.There is a change in the profit or loss sharing ratio
Iv. Intangible asset increase

Which of the following is used to service all operations of government?

Given:
I. Cash refunds
II. Debit note issued
III. Dishonored cheque
IV. Purchases
The item on the credit side of purchases ledger control account includes

An advantage of FIFO method of stock valuation is that