The Accounting term used to describe a partnership firm that stops operation and disposes its assets is
Income and Expenditure account is the same as the --------- of a sole trader
In company account, dividend payments are effected in which of the following accounts?
The following was extracted from the books of MEGA COMPANY NIG. LTD
|
₦ |
|
|
Trade debtors |
350,000 |
|
Fixtures and fittings |
600,000 |
|
Cash at bank |
25,000 |
|
Cash in hand |
5,500 |
|
Trade creditors |
116,500 |
|
Bank overdraft |
7,500 |
|
Building |
950,000 |
|
Motor van |
35,000 |
The working capital of the company is
Which of the following is not an advantage of control account?
