Accounts - Principles of Accounts Past Questions and Answers

The principle of double entry system ensures

The interest on partner's loan is

Which of the following is a debit item in the purchase ledger control account?

Forlah, a stock broker bought stationery for ₦12,000 by cash. To record this transaction, debit

Given:                         Lankoh Company Ltd                                                       ₦ Stock                                        3,600,000 Cash at hand                               800,000 Cash in bank                            2,400,000 Debtors                                       580,000 Trade creditors                           920,000 Bank overdraft                            200,000 Tax liabilities                               600,000 Salary owed to staff                    180,000 What is the working capital?