Departmental Accounts - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 26:

• 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 27:

• JAMB 2008

The main reason for adopting a departmental account is to?

A. Record transactions for each department for betterdocumentation
B. Tackle any recording problem as a result of expansion
C. Continuously evaluate the profitability of different departments
D. Ensure that departmental mangers are adequately monitored

Question 28:

• JAMB 2009

The cost incurred by departments that support the production departments with such activities as maintenance, production control and storage are called?

A. Autonomous costs
B. Service costs
C. Supporting cost
D. Subsidiary costs

Question 29:

• JAMB 2009

i Space occupied by each department.
ii Average value of stock held by each department.
iii Departmental turnover.
iv Number of articles sold by each department .
From the information above, the two most logical bases for apportioning expenses that are common to departments are?

A. I and ii
B. I and iii
C. Ii and iii
D. Iii and iv

Question 30:

• 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