Accounts - Principles of Accounts Past Questions and Answers

Use the following information to answer this question
A company charges out goods to a branch at cost plus 25 percent. It invoiced N12,00 worth of goods
The mark-up is

Use the following information to answer this question
A company charges out goods to a branch at cost plus 25 percent. It invoiced N12,00 worth of goods
The double entry required for the mark-up is debit Branch

A ledger is a

A real account is the account of

An item is fictitious because it