Accounts - Principles of Accounts Past Questions and Answers

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If goods are sent to branch at 25% on cost, what will be the cost of goods sent to the branch at a selling price of ₦100,000?

Use the information below to answer this question At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of  ₦180,000 it is however discovered that revenue of  ₦15,000 is recorded as expenses while expenses of ₦4,000 is recorded as revenue. Determine the adjusted net profit

Use the information below to answer this question At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of  ₦180,000 it is however discovered that revenue of  ₦15,000 is recorded as expenses while expenses of ₦4,000 is recorded as revenue. The revenue to be added as an adjustment is

The corresponding entry of personal accounts  found in the debit side of the cashbook is to