2003 - JAMB Accounting Past Questions and Answers - page 3

A company has two departments X and Y. Y transferred goods to X at a profit margin of 25%. N10,000 worth of goods was not sold at the end of the accounting period. How much is the unrealized profit?

Given: ..............Rich Social Club........... Cash.........................N100,000 Loan ........................N30,000 Subscription in arrears......N5,000 Subscription in advance......N15,000 What is the accumulation fund?

During the year ended 31st December 2001, Nuju Enterprises paid rent as follows: Jan. 20, N24 000 for a period of 4 months. May. 16, N30 000 for a period of 5 months. Oct. 15, N36 000 for a period of 6 months. What is the overpaid portion of the rent?

Use the information below to answer question . ...........PQ Manufacturing Company Raw materials (1/11/2001)...........N3 500 Raw materials (31/12/2001)..........N4 900 Purchase of raw materials...........N56 000 Salary .............................N63 000 Wages...............................N148 000 Factory lighting ...................N3 080 Plant Depreciation..................N2 800 Factory Insurance ..................N2 170 The overhead cost is?

Use the information below to answer question . ...........PQ Manufacturing Company Raw materials (1/11/2001)...........N3 500 Raw materials (31/12/2001)..........N4 900 Purchase of raw materials...........N56 000 Salary .............................N63 000 Wages...............................N148 000 Factory lighting ...................N3 080 Plant Depreciation..................N2 800 Factory Insurance ..................N2 170 The company consumed raw materials worth?

A company has departments M and N. The expenses incurred wholly in M is N5000. General expenses incurred amount toN25000. Expenses are apportioned in the ratio 2:3 for departments M and N respectively. What is N's share of the expense?

The first step in converting as single entry to a double entry system of bookkeeping is to prepare a?

Use the information below to answer question Total sales of ticket.......................N300 000 Amount received from the sales..............N260 000 Cash purchase of club house.................N100 000 Credit purchase of equipment ...............N60 000 Electricity bill paid ......................N5 000 Salaries owed ..............................N2 000 What is the receipts and payment account balance?

Use the information below to answer question Total sales of ticket.......................N300 000 Amount received from the sales..............N260 000 Cash purchase of club house.................N100 000 Credit purchase of equipment ...............N60 000 Electricity bill paid ......................N5 000 Salaries owed ..............................N2 000 What is the balance of the income and expenditure account?

Receipts and payments accounts is the summary of?