Proprietor is a creditor of the business for ______
Difference between assets and liabilities is
Cash Memo is a
Additional capital introduced in the business will increase ____ and ____
Goods purchased on credit will increase the
Purchases is an expense of the business – so it decreases the profit (and hence the equity) and if it is on credit then it increases the liability.
Separately, if any of the purchases are unsold then we have inventory.
If we have inventory then this is an asset so assets increase and profit (so equity) also increases
In Purchase book goods purchased on .........are recorded.
In all circumstances Assets will be always equal to _____ + ______
Transfer voucher is prepared for
The company pays its creditors by cheque. What is the effect on assets and liabilities
The company has collected money from its debtors by cheque.What is the effect on assets and liabilities
In which book credit sales of goods are recorded
Which document evidencing that the account of the named person is debited for the reason stated therein
Example of an assets is
Which of the following is not an assets
Which of the following is a liability
Which of the following statement is correct
Source of documents are
The final balance of purchase book is debited to :
The periodic total of purchases return journal is posted to :
Which voucher is prepared for the payment of salary, purchase of goods, payment made to any creditor etc.