Accounts - Principles of Accounts Past Questions and Answers

The excess revenue over expenditure is charged to

Given:
Fixtures-#30,000
Debtors-#7,000
Stock- #8,000
Creditors-#3,000
Goodwill-#10,000
Determine the capital

In the head office ledger, the value of goods sent to the branch are

Which of the following methods of invoicing goods to branches facilitate easy checks on the activities of branches?

The partners capital are: Modibbo #60,000
and Jakata #90,000. The partners share
profit and losses in the ratio of their capital
contributions.
The net profit for the year is #12,000.
Find Modibbo's share of the profit