Accounts - Principles of Accounts Past Questions and Answers

Use the following information to answer the given question<br/>\(\begin{array}{c|c} \text{Rent receivable accrued 1/01/2005} & D3,000\\ \text{Rent received during the year 2005} & D5,000\\ \text{Rent receivable accrued 31/12/2005} & 2,600\end{array}\)<br/>The entry for rent received in the profit and loss account for the year ended 31st December 2005 is

Use the following information to answer the given question<br/>\(\begin{array}{c|c} \text{Rent receivable accrued 1/01/2005} & D3,000\\ \text{Rent received during the year 2005} & D5,000\\ \text{Rent receivable accrued 31/12/2005} & 2,600\end{array}\)<br/>The rent receivable accrued as at 31st December 2005 is shown in the balance sheet as

Use the following information to answer the given question<br/>\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening balance} & 1,894 Dr \\ \text{Cheques received from customers} & 7,286\\ \text{Cash received from customers} & 1,236 \\ \text{Returned from customers} & 296 \\ \text{Closing balance} & 3,368 Dr\end{array}\)<br/>The closing balance of ₦3,368 Dr is classified in the balance sheet as a

Which of the following is not a cause of depreciation?

Items on the left-hand side of a total debtors account are debits in the