Jamb Accounts - Principles of Accounts Past QuestionsQuestion 561:Use the information below to answer question Capital.................................N60 000 Bank....................................N12 500 General expenses........................N5 250 Creditors...............................N17 000 Stock...................................N98 500 Fixed assets............................N42 000 Insurance and rates.....................N18 800 Purchase................................N63 850 What is the cash balance on the debit side if it is the only item omitted? A. N6745 B. N6754 C. N6475 D. N6574 Question 562:Use the information below to answer question Capital.................................N60 000 Bank....................................N12 500 General expenses........................N5 250 Creditors...............................N17 000 Stock...................................N98 500 Fixed assets............................N42 000 Insurance and rates.....................N18 800 Purchase................................N63 850 Determine the total of the trial balance? A. N123 325 B. N160 050 C. N166 525 D. N326 575 Question 563:Given: Stock of raw materials 1/40............N11 150 Purchases of raw materials.............N112 550 Raw material returned..................N31 150 Stock of Raw materials 31/12/04........N27 150 Calculate the cost of raw materials consumed? A. N156 000 B. N38 300 C. N183 150 D. N66 550 Question 564:Use the information below were to answer questions ...................Stationary Dept.............Video Dept. Sales ..............N10,600.....................N15,175 Cost of goods sold..N5,247......................N6704 The expenses incurred were rent N4500, motor repairs N1200 and telephone N900. The basis of cost apportionment is 1/2 stationary 1/3 video. Determine the net profit of the business? A. N6600 B. N6271 C. N5353 D. N7224 Question 565:Use the information below were to answer questions ...................Stationary Dept.............Video Dept. Sales ..............N10,600.....................N15,175 Cost of goods sold..N5,247......................N6704 The expenses incurred were rent N4500, motor repairs N1200 and telephone N900. The basis of cost apportionment is 1/2 stationary 1/3 video. Find the total expenses allocated to the stationary department? A. N3600 B. N1400 C. N4400 D. N3800 |
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