Accounts - Principles of Accounts Past Questions and Answers

Use the following information to answer the question given.<br/>\(\begin{array}{c|c} Capital & Le \\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\)<br/>Profit sharing is in the ratio of capital. The divisible profit is

Use the following information to answer the question given.<br/>\(\begin{array}{c|c} Capital & Le\\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\).<br/>Profit sharing is in the ratio of capital. Aye;s share of profit is

Use the following information to answer the question given.<br/>\(\begin{array}{c|c} Capital & Le\\ Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \{text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\)<br/>Profit sharing is in the ratio of capital. Bee's share of profit is

The accounting ratio used to measure the average number of days for which suppliers remain unpaid is

When the purchase consideration exceeds the value of business, the difference is