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Jamb Accounts - Principles of Accounts Past QuestionsQuestion 431:Use the information to answer this question. ..............ZEBRA PLC.............. .............Balance sheet as at 31st March, 2002 ...............N...............N............N...... Capital......100,000...Fixed assets: Current................Land &.................. Liabilities...........buildings..50,000...... Creditors........30000..Furniture..10,000....60,000 .......................Current.................. .......................Assets: ....... ..................Stock .........30,000........... ..................Debtors.......30,000............. ..................Cash..........10,000......70,000.. .............130,000.........................130,000 The business was acquired on 1st April, 2002 at a purchase consideration of N120,000 by SOZ. All assets and liabilities were taken over except the cash to open the new firm's bank account additional N20,000 was paid into the bank. Calculate the network of the business A. N120,000 B. N90,000 C. N80,000 D. N30,000 Question 432:What is the consolidated revenue fund balance? A. N1100,000 B. N680,000 C. N440,000 D. N410,000 Question 433:Use the information below to answer this questions Capital..................N............N........ Land and building.......18470........24000.... Mortgage on premises...................11090... Drawings...............3000................... Profit and loss........................3600... Furniture and fittings...5120................. Motor Vehicles...........3462................ Closing Stock............3000................ Debtors..................11474............... Creditors..............................7354. Cash.....................1518................ ..........................46044.........46044 What is the capital employed? A. N44 600 B. N43 052 C. N43 044 D. N38 600 Question 434:Use the information below to answer this questions Capital..................N............N........ Land and building.......18470........24000.... Mortgage on premises...................11090... Drawings...............3000................... Profit and loss........................3600... Furniture and fittings...5120................. Motor Vehicles...........3462................ Closing Stock............3000................ Debtors..................11474............... Creditors..............................7354. Cash.....................1518................ ..........................46044.........46044 Calculate the value of fixed assets A. N15 992 B. N18 470 C. N27 000 D. N27 052 Question 435:Use the information to answer this question Date.............Details........................ Feb........1 Purchased 400 units at N1.00 each ,, ........5 Purchased 200 units at N2.00 each ,,.........10 Purchased 200 units at N300 each ,, .........15 Issued 320 units ,,..........20 Issued 200 units at N4,00 each ,,..........25 Issued 120 units Calculate the price per unit of closing stock using the periodic weighted average method. A. N3.20 B. N3.00 C. N2.20 D. N2.00 |
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