Use the following information to answer questions below
Bola a grocer, keep petty cash on imprest system, the float being GH⊄ 8,000. These transactions took place in January 2018.
GH⊄ | ||
January 1 | Petty cash in hand | 1034 |
January 1 | Petty cash to restore float | 6966 |
January 6 | Bought note books | 656 |
January 7 | Paid wages | 1828 |
January 14 | Bought postage stamps | 750 |
January 16 | Paid to Biodun a creditor | 1072 |
January 18 | Paid wages | 1856 |
January 23 | Purchased envelopes | 874 |
January 28 | Purchased postage stamps | 420 |
Amount reimbursed at the end of the month was
An item that would be classified as preliminary expenses in a company's account is
Use the information to answer questions below
Years | Current Assets | Liabilities | Fixed Assets | Capital |
# | # | # | # | |
2018 | 52550 | 78600 | 127450 | X |
2017 | 41650 | 53220 | Y | 116780 |
The letter X represents
Use the information to answer questions below
Years | Current Assets | Liabilities | Fixed Assets | Capital |
# | # | # | # | |
2018 | 52550 | 78600 | 127450 | X |
2017 | 41650 | 53220 | Y | 116780 |
The letter Y represents
Revenue expenditure of a local government includes purchase of