IN A PETTY CASH BOOK, THE CLOSING BALANCE WAS N235, IMPREST N1,250, WHILE THE STATIONERY EXPENSES WERE N655. HOW MUCH WAS PAID FOR OTHER GENERAL EXPENSES
A. N360 ✓ B. N355 C. N350 D. N305 The answer to the question is: A. N360 In a petty cash book, the closing balance was N235, imprest N1,250, while the stationery expenses were N655. To calculate how much was paid for…
DESCRIBE THE MECHANISMS OF OPENING AND CLOSING OF THE STOMATA
Stomata are tiny openings found on the surface of leaves and stems in plants. They play a crucial role in regulating gas exchange, allowing for the uptake of carbon dioxide (CO2) needed for photosynthesis and the release of oxygen (O2)…
WHAT ARE CLOSING ENTRIES
Closing entries are journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts. Temporary accounts include revenue, expense, and dividend accounts, which are used to track the company’s financial activities…