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

Question 36:

• 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 37:

• 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

Question 38:

• JAMB 2013

When there is no basis of apportionment in an organization, the expenses should be apportioned based on

A. Sales
B. Purchases
C. Equality
D. Floor space

Question 39:

• 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 40:

• 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