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

Question 26:

• JAMB 2019

Use the question to answer this question:

Opening stock	₦
DepartmentAB	100800
Purchases:ABWages of workersSalaries	1500200050100
SalesAB	30005000

Expenses are to be shared in the ratio of sales.


The net profit for departmental A is

A. 1880
B. 1600
C. 880
D. 425

Question 27:

• JAMB 2021

Use the information below to answer the question

Gross profit b/dLess: Salaries and wages Electricity Depreciation Net profit c/d

Dept A ₦6,0001,800 ? 600?6,000

Dept B ₦4,0001,200 ? ?1,6004,000

Total ₦10,000 3,000 2,000 1,000 4,00010,000

It is the tradition of the organization to apportion expenses in the proportion 60%:40% for A and B respectively.

What is the net profit made by department A?

A. ₦2000
B. ₦3600
C. ₦3000
D. ₦2400

Question 28:

• JAMB 2021

Use the information below to answer the question.
Phebe Enterprises has two departments S and T, with the following information

S ₦Opening stock 5,000Purchases 26,000Closing stock 7,000Sales 45,000

T₦1,500 3,0002,5004,000

The following expenses are to be shared in the ratio of 4:1
Rent ₦8,300
General expenses ₦3,200
What is the net profit (or loss) contributed by department T

A. ₦2000
B. ₦300
C. (₦2000)
D. (₦300)