Practice Activity 10.4 Making comparisons across two or more accounting periods of the same business entity Good Business Limited has...

Practice Activity 10.1 The meaning of accounting estimates in the financial statements (the case of a bank) Consistent in Business Bank...

Practice Activity 10.2 Expressing the relationship between two accounting numbers in financial statements The facts are the same in...

The following information was extracted from the books of accounts pertaining to Amaco Company Limited for the year ended 31 December...

Practice Activity 9.30 Preparation of cash flows from financing activities for inclusion in the statement of cash flows for a company The...

The facts are the same as Practice Activity 9.27. Required: Using the indirect method, report the cash flows generated from operating...

From the following information pertaining to Onyinyechukwu Limited, prepare a statement of cash flows for the year ended 31 December...

Give examples of cash receipts and payments on behalf of customers that reflect the customer's activities and not those of the entity....

In addition to the facts in Practice Activity 9.21, Amacom Enterprises acquired a building to expand the production of leather shoes and...

Chinedu, Afam, and Uche are customers who buy goods on credit from Abbey Company Limited. The following information shows the credit...

Give examples of cash and cash equivalents owned by a business enterprise. See the suggested answer to practice activity 9.18 here....

Obi Oil Limited was incorporated in 2006. The company’s authorised share capital is ₦700,000 ordinary shares of 50 kobo each. Obi Oil...

Practice Activity 9.14 Treatment of preference shares in a Limited Liability Company’s financial statements Agift Design Limited was...

Practice Activity 9.12 Treatment of rights issue of equity shares in the statement of financial position of a Limited Liability Company...

Practice Activity 9.10 Treatment of a non-current asset’s revaluation when an actual sale of the asset did not occur The following...

Practice Activity 9.8 Treatment of dividends in the financial statements of a Limited Liability Company The year-end of Excellent Value...

Mr. Bright is a shoemaker and derives his income from making and selling shoes. Bright inherited a three bed-room apartment from his...

The facts are the same as practice activity 9.3. The closing inventory as at 31 July 2019 is ₦12,500. You are required to prepare the...

The following Trial Balance was extracted from Ama Enterprises as at July 31, 2019. You are required to prepare the statements of: i....

Rose Company Limited acquired equipment on 3 June 2018. The equipment was acquired for ₦456,780. Rose Company Limited prepares its...