The following events occurred in Emeka Enterprises during March 2017. i. Emeka introduces ₦400,000 cash into the enterprise on March 3,...

The following events occurred in Emeka Enterprises during March 2017. i. Emeka introduces ₦400,000 cash into the enterprise on March 3,...

Mr. Emeka recently hired a bookkeeper to maintain the accounting records of Emeka Enterprises. The bookkeeper was formally introduced to...

Practice Activity 11.6 Computation of interest on drawings made by a partner from a partnership business Gaaba and Hapuru contribute...

Gaaba and Hapuru contribute ₦700,000 and ₦400,000 respectively to commence a partnership business in April 2018. Based on the partnership...

Ebubechukwu and Febechukwu contribute ₦500,000 and ₦300,000 respectively to commence a partnership business in April 2018. Based on the...

Ebubechukwu and Febechukwu contribute ₦500,000 and ₦300,000 respectively to commence a partnership business in April 2018. The profit...

Ada, Biakenechukwu, Chukwuka, Dimoma commenced a partnership business in January 2017. Assume that the profit or loss sharing ratio in a...

A partnership firm has been formed for the purpose of carrying on legal services cutting across oil and gas, real estate, banking,...

Welcome to A Learner's Guide to Financial Accounting. Published by Excellent Value Banner Products Limited, the eBook assists the...

Practice Activity 11.14 Presenting the statement of financial position after the amalgamation of a partnership and a sole proprietorship...

Practice Activity 11.13 Presenting the statement of financial position after the amalgamation of two sole proprietors’ businesses to...

Practice Activity 11.12 Capital contribution of partners in a partnership’s statement of financial position Akanchawa, Biakenechukwu and...

Peace, Progress and Unity are partners in Peace Progress Unity & Co., sharing profits or losses based on the ratio of 3:2:1,...

The sharing profits or losses are very important in a partnership business. It is important for a partner to calculate his or her total...

Nkem and Obi contribute ₦700,000 and ₦400,000 respectively to commence a partnership business in April 2018. Based on the partnership...

Gaaniru and Lotechukwu contribute ₦700,000 and ₦400,000 respectively to commence a partnership business in April 2018. The partnership...

Gaaba and Hapuru contribute ₦700,000 and ₦400,000 respectively to commence a partnership business in April 2018. Based on the partnership...

Give two examples of financial transactions based on cash and credit. Suggested answers to practice activity 2.3 Examples of financial...

Can you think of more purposes of financial accounting? Suggested answers to practice activity 2.2 Estimate the amount paid to...