Increase in the amount of creditors results in

Related MCQs

• Cash paid to creditors + closing creditors – opening creditors =
• Under which of the following concepts are shareholders treated as creditors for the amount they paid on the shares they subscribed to?
• Increase in the amount of prepaid expenses results in
• The closing balance in the creditors account can be ascertained from the
• According to which concept, proprietor of a business is treated as a creditors to the extent of his capital
• Creditors account is prepared to ascertain
• Cash paid to creditors can be calculated from
• In the creditors control account, all of the below exist except:
• ABC Ltd. makes payments to its Sundry Creditors through cheques and the Cash Discount received on these payments is recorded in the Triple-columnar Cash Book. In the event of dishonour of any such cheques, the discount so received should be written back through (i) A debit to discount column of the Cash Book (ii) A credit to discount column of the Cash Book (iii) A credit to bank column of the Cash Book (iv) A debit to Discount Account through Journal Proper (v) A credit to Creditor‘s Account through Journal Proper
• Balance of X's account in creditors ledger is transferred to X's account in debtors ledger, in this case