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#Post#: 293--------------------------------------------------
Re: FREE 100% CORRECT FINANCIAL ACCOUNTING ESSAY AND OBJECTIVE A
NSWERS
By: Ebenezer Date: September 20, 2013, 4:28 am
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(8.
Debtor's account
Debit Side
Bal(1200)
sales(8200)
int Charge(140)
Dishouned cheque(1400)
Carriage out(110)
Dishourned(1200)
int on overdue(100)
12,350
Credit side
cheque received(9200)
return inwards(240)
bad debt(800)
set-off(400)
bal c/d (1710)
10640
Creditor's control
Debit side
cash paid(250)
cheques paid(4200)
return out(220)
set-off(400)
bal c/d(5,250)
10,320
credit side
bal(720)
purchases(9600)
10,320
bal b/d(5250)
#Post#: 294--------------------------------------------------
FREE 100% CORRECT FINANCIAL ACCOUNTING ESSAY AND OBJECTIVE ANSWE
RS
By: Ebenezer Date: September 20, 2013, 4:42 am
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(1a.) Departmental account means account prepared separately for
the department and here ledgers will be opened, trial balance
will be prepared and also profit and loss account.it determines
the financial status of each department in an institution.
(1b.) apportinate is a term used for differentiation and
division of each department financial status into different
account.
(1c) purpose of departmental account
- to determine the financial status of each department
- it is used to determine profitability of each department
- it is useful for decision - making processes.
- it is used for determine gross profit of each department
- it is used for monitoring the progress of each department.
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(3ai)prime cost are the cost that can be traced to a particular
production unit.
(3aii)
-direct materials: this is the expenditure on raw materials
which can be traced to aparticular production unit
-Direct expenses: these are expenses which have direct
indentfication with production e.g royalties
-direct labour: this refers to the wages of employeess who are
directly engaged in the production process
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(3b)
-it saves time
-it allow homogenous accoutn
-it used to detect missing figures
-it helps in locating errors
-it provide a check on the accuracy of balance of the ledgers
-total debtors and creditors can be easily calculated.
#Post#: 295--------------------------------------------------
Re: FREE 100% CORRECT FINANCIAL ACCOUNTING ESSAY AND OBJECTIVE A
NSWERS
By: Ebenezer Date: September 20, 2013, 6:14 am
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Verified ACCOUNT OBJ:
1-10: ACBBCBACAB
11-20: ADDBABDDAB
21-30: ABDDBBACBB
31-40: CDDDABACBB
41-50: BDDCBAACDB
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