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…
WHEN EXPENSES ARE PAID ON BEHALF OF THE VENTURE, THE ACCOUNTING ENTRIES IS TO DEBIT
A. expenses account and credit bank account B. bank account and credit joint venture account C. joint venture account and credit bank account ✓ D. joint venture account and credit expenses account The answer to the question is: C. joint venture account and credit…
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