Accounts - Principles of Accounts Past Questions and Answers

The following appears in the trading account except

	₦
Debtors opening	4000
Debtors closing	1500
Cash received from debtors	8500
Bad debts written off	350
Discount allowed	500
Discount received	1000

What is the amount of sales for the year?

The principle of double entry developed from the axioms of accounting equation is given as

A part of public company's profit belonging to the shareholders is

Accounting entry for dissolution expenses is