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?