Accounts - Principles of Accounts Past Questions and Answers

The effect of the payment of liability is that it

Shares issued to a vendor in payment of business purchased would require a debit to?

(i) Meet growth and diversification need.
(ii) Reach out to particular customers or markets
(iii) Comply with some regulatory directives
(iv) Increase employees' income.
Which of the reasons above do companies consider in establishing branches?

If liabilities amounted to N12,045, other assets N36,800and equity N26,896, the cash at hand would be?

Use the information below to answer questions
The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000.
Creditors N50,000
Debtors N46,000
Loan N100,000
Stock N20,000
Motor vehicle N120,000
Building N70,000
Accrued wages 30,000
Bank N25 ,000
The value of capital invested by the owners is?