Use the information below to answer question
Trading account for the year ended 31st December 2009
₦ | ₦ |
Opening Stock 32,000 | Sales 48,000 |
Purchases 40,000 | Less Return 2,000 |
Carriage inwards 1,000 | |
41,000 | |
Less Return 2,000 39,000 | |
Cost of goods available ?? | |
Less closing stock 9,000 | |
Cost of goods sold ?? |
Calculate the cost of goods sold
The amount called in respect of a share but not paid before or on the date fixed for payment is referred to as:
When goodwill is not retained in the business, the entries in the new partners books will be to debit______________
Use the information below to answer the question
Liabilities ₦ | Assets ₦ |
Capital 40,000 | Furnishing 10,000 |
Ceiling Fan 1,500 | |
Cash in Hand 28,500 | |
40,000 | 40,000 |
If at 31/1/95 the following information was ascertained
(i). rent for shop #12,000 paid for the year
(ii). Total purchases #15,000
(iii). Total sales #8,200
(iv). Stock of goods left #10,000
(v). paid sales boy #500
What is the new balance sheet total as at 31/1/95?
In the head office ledger, the value of goods sent to the branch are____________