Question 1 Report
The following appears in trading account except
Answer Details
carriage outward: it is the cost of transporting goods from the company to the buyer. it is on debit side of the profit and loss account because it is an expenses incurred on distributing the goods to customer.
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
You add the following when starting with the balance as per cash book when preparing the bank reconciliation statement except
The account where the profit are distributed to the partner in their profit sharing ratio in partnership
Which of these accounts is dissolution expenses credited?
In the period of rising prices, which method of stock valuation is most appropriate?
Which fund is used to meet unforeseen or urgent expenditure
Capital for a profit making organization is generated through
In manufacturing account, depreciation of office machine is charged to
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