Use the following information to answer the question
Ant and Bee withdrew GH⊄ 14,000 and GH⊄ 10,000 respectively at 8% per annum from the partnership.
The total interest on drawings to be charged to profit and loss appropriation account is
Which of the following items is a tangible asset?
Use the following information to answer the question
| Le | |
|
Capital (01/01/2020) |
1,934,600 |
| Capital (31/12/2020) |
2,530,000 |
| Expenses | 3 45,900 |
| Drawings for 2020 |
72,500 |
|
Additional capital for 2020 |
250,000 |
The gross profit for the year is
Use the following information to answer the question
| Le | |
|
Capital (01/01/2020) |
1,934,600 |
| Capital (31/12/2020) | 2,530,000 |
|
Expenses |
346,900 |
| Drawings for 2020 | 72,500 |
| Additional capital for 2020 | 250,000 |
The net profit for 2020 is
Use the following information to answer the question
The following transactions relate to Osei Enterprises for the year ended 31st December 2020.
| D | |
|
Purchases |
160,000 |
| Returns outwards | 880 |
| Carriage inwards | 740 |
| Returns inwards | 620 |
| Sales | 195,000 |
| Salaries | 27,600 |
| Closing stock | 14,100 |
The cost of goods available for sale is
