Accounts - Principles of Accounts Past Questions and Answers

Given:
General expenses account.
Paid by cheque..................N671
Paid by cash....................N70
Accrued b/f.....................N65
Accrued c/f.....................N115
Determine how much to be charged to profit and loss account?

In converting single entry to final account, the balancing figures on the income and expenses accounts are transferred to the?

Use the information below to answer questions 23 and 24.
Beginning inventory............N?
Purchases......................N?
Ending inventory...............N4,800
Sales..........................N12,800
Wages..........................N1,040
Gross profit...................N5,900
The beginning inventory was estimated at 80% of sales.
Determine the amount for the beginning inventory?

What is the figure for purchases?

Cost classification in relation to charges is determined by the level of?