Introduction to Company Accounts - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 86:

• JAMB 2009

The book value per share is obtained by dividing?

A. Shareholders equity by outstanding shares
B. Total assets by outstanding shares
C. Gross profit by outstanding shares
D. Net profit by outstanding shares

Question 87:

• JAMB 2009

If the gross profit margin is 10% of sales, what is the value of the cost of goods sold?

A. N10,000
B. N90,000
C. N105,600
D. N110,000

Question 88:

• JAMB 2010

Given:
N6 000 10% preference shares of N0.50 each
N6 000 ordinary shares of N1 each
Capital reserves N2 700 000
Long-term liabilities N4 000 000
Find the value of authorized share capital?



A. 13 000 000
B. 12 000 000
C. 9 000 000
D. 15 700 000

Question 89:

• JAMB 2010

An ordinary share of N80 was issued at N96. The share was issued at?

A. Premium
B. Par
C. Discount
D. Loss

Question 90:

• JAMB 2011

Use the information below to answer questions 23 and 24.
Incomplete Record (Extract)
Sales......................................N10,600
Rent...........................N200
Depreciation of vehicle (cost N5000) 10%
Gross profit margin is 20%
What is the cost of goods sold?

A. N4 800
B. N8 480
C. N2 320
D. N 9 900