The accounting method that reports incomes when earned and expenses when incurred is called 

Stationery which will be used over a long period of time is usually recorded as an expense instead of an asset. This concept is called

Given:
                                  ₦
Bank overdraft       2,000
Cash                      2,000
Furniture                4,000

Derive the total amount on the credit side of the trial balance

Use the information below to answer this question:
i. cash at bank  ii. cash in hand  iii. premises  iv. land  v. creditors  vi. loan from friends/bank

Determine the fixed assets

Use the information below to answer this question:
i. cash at bank  ii. cash in hand  iii. premises  iv. land  v. creditors  vi. loan from friends/bank

What are the current assets?