Accounts - Principles of Accounts Past Questions and Answers

An income and expenditure account is a summary of

Additional information :<br/>1: 1: 93 31 : 12 : 93<br/>N N<br/>Subscription in arrears 300 450<br/>Furniture 7000<br/>Subscription received<br/>in advance 500 400<br/>Rate owing 50 60<br/>Subscription relating to the accounting year 1993 in the income and expenditure account is

Accumulated fund on 1st January 1993 is

On partnership dissolution, if a partner's capital account has a debit balance and the partnr is insolvent, the deficiency will, in accordance with the decision of the case of Garner v Murray, be

A company has 5% debentures worth N500 000 ordinary share capital N 2 000 000, and preference shares N1500 000. if the company made a profit of N 1 000 000, the debenture interest would amount to