Accounts - Principles of Accounts Past Questions and Answers

Us the following information to answer the question given.<br/>\(\begin{array}{c|c} \text{Cost of motor vehicle - 1\1\12} & ₦ 85,000 \\ \text{Residual value} & ₦5,000 \\ \text{Estimated useful lifespan 10 years} & \end{array}\). <br/>The business make use of the straight line method for providing depreciation, the annual depreciation is

Use the information to answer the question given.<br/>\(\begin{array}{c|c} \text{Cost of motor vehicle - 1\1\12} & ₦ 85,000\\ \text{Residual value} & ₦5,000 \\ \text{Estimated useful lifespan 10 years} & \end{array}\). <br/>The business make use of the straight line method for providing depreciation, the accumulated depreciation as at 31/12/2013 is

The purchase of ten ceiling fans by Akpan Electronic Enterprises will be recorded as

Which of the following accounts would appear in the nominal ledger? i. Sanison's account(a debtor) ii. Motor vehicle account iii. Sales account iv. Rent and rates account

Net profit in a business is