Accounts - Principles of Accounts Past QuestionsQuestion 346:NAFARA AND SONS Balance Sheet items as at 31st December, 1987. Capital N74480 Creditors N15875 Prepaid expenses N580 Motor vehicles N34750 Furniture N35850 Accrued expenses N645 Stock N8100 Cash balances N9911 Debtors N1809 Compute the value of current assets? A. N20400 B. N20465 C. N35695 D. N19820 Question 347:Use the information below to answer questions The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000. Creditors N50,000 Debtors N46,000 Loan N100,000 Stock N20,000 Motor vehicle N120,000 Building N70,000 Accrued wages 30,000 Bank N25 ,000 The value of capital invested by the owners is? A. N110,000 B. N105,000 C. N101,000 D. N100,000 Question 348:Use the information below to answer questions 9 and 10. The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000. Creditors N50,000 Debtors N46,000 Loan N100,000 Stock N20,000 Motor vehicle N120,000 Building N70,000 Accrued wages 30,000 Bank N25 ,000 The liabilities of Udo Co. Ltd is? A. N180,000 B. N181,000 C. N177,000 D. N110,000 Question 349:The normal accounting entry to record the dishonor of a businessman is to? A. Debit cash book and credit suspense account B. Debit cash book and credit drawer C. Credit caah book and debit suspense account D. Credit cash book and debit drawer Question 350:Use the information below to answer question . Statement of assets and liabilities as at 31st December, 2001. Shareholders' interest N240 Current liabilities N20 Current assets N110 Fixed assets N140 Determine the value of the trade investment? A. N8m B. N10m C. N15m D. N20m |
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