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

Question 21:

• JAMB 2013

Department K Y
Opening stock #2,500 #800
Purchases #120,000 #100,000
Sales #180,000 #200,000
Salaries #8,000 #30,000
Closing stock #3,000 #1,500
Rate expenses of #1,500 are apportioned in the ratio 1:2.
The gross profit for K is

A. #23,500
B. #60,500
C. #60,700
D. #82,500

Question 22:

• JAMB 2013

Department K Y
Opening stock #2,500 #800
Purchases #120,000 #100,000
Sales #180,000 #200,000
Salaries #8,000 #30,000
Closing stock #3,000 #1,500
Rate expenses of #1,500 are apportioned in the ratio 1:2.
What is the net profit of Y?

A. #52,000
B. #68,300
C. #68,800
D. #69,300

Question 23:

• JAMB 2015

Use the information below to answer this question.
\(\begin{array}{c|c}
\hline & \text{Dept A} & \text{Dept B} \\
\hline
\text{Sales} & 180,000 & 150,000 \\
\hline
\text{Cost of sales} & 79,000 & 85,000 \\
\hline
\text{Expense} & 28,000 & 40, 000 \\
\end{array}\)
How much is the gross profit for department A?

A. N101,000
B. N73,000
C. N79,000
D. N152,000

Question 24:

• JAMB 2017

Calculate the discount received in Department B
\(\begin{array}{c|c} & \text{Dept A} & \text{Dept B} \\ \hline & N & \\ \hline \text{Sales} & 250 000 & 500 000 \\ \hline \text{Purchases} & 150 000 & 250 000 \\ \hline \text{Discount received} & 24 000 & \\ \hline \text{Discount allowed} & 15 000 & &
\end{array}\)

A. ₦12,000
B. ₦15,000
C. ₦16,000
D. ₦9,000

Question 25:

• JAMB 2018

Departmentalization of accounts is useful because it shows the____________

A. Over all performance of a division
B. Cost per unit of a profit
C. Price per unit of a product
D. Over all performance of a firm