Departmental trading and profit and loss account - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 16:

• JAMB 2007

A company has departments X, Y and Z. Department X occupies a space of Y while Z occupies half the space of Y. If the company pays N70 000 on rent, what is the amount of rent that should be allocated to Y?

A. N30 000
B. N40 000
C. N20 000
D. N10 000

Question 17:

• JAMB 2009

Use the information to answer question below
......................... Departments
........................... P Q R
Sales value............... N23,400
Selling expenses.......... 1,100 N1,400 N1,280
Administrative expenses...N1,400 N1,000 N1,020
Cost of sales............. N6,900.... N6,700 N5,500
Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to N1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.
What is the sales value of department R?

A. N7,800
B. N11,700
C. N23,400
D. N35,100

Question 18:

• JAMB 2010

The Akachala Limited has four department W, X Y and Z. The profits or loss of the departments were N20 000 loss, X N25 profit, Y were N30 000 loss and Z N1800 profit. How much is the net profit or loss of the company?

A. N7 000 loss
B. N5 000 loss
C. N5 000 profit
D. N7 000 profit

Question 19:

• JAMB 2012

The main advantage of a departmental account is that its

A. Expenses are shared
B. Gross profit is computed
C. Net profit is computed
D. Balance sheet is obtained

Question 20:

• JAMB 2012

Given:
From the above information, the gross profit from department X is

A. N3,800
B. N2,300
C. N2,200
D. N2,000