Accounts - Principles of Accounts Past Questions and Answers

Hauwa Ltd bought 10bags of rice for N500 each.
The company was given 5% AND 12% trade and cash discounts respectively. What will be recorded as discount received in the company's book?

A cash book had opening balance of N15,200 closing balance N18,400 and total cash received during the period N36,000. What was the amount of cash paid out during the same period?

In a petty cash book, the closing balance was N235, imprest N1,250, while the stationery expenses were N655. How much was paid for other general expenses?

When a bill is negotiated to a bank, it is said be?

Given that the balance as per cash book after necessary adjustment was N4,315, unpresented cheques were N1,688 and the bank statement balance was N4,791, what was the balance of uncredited cheques?