2005 - JAMB Accounting Past Questions and Answers - page 5

Given: purchases ledger balance..............N4000 purchases for the period..............N50000 Cash refunded by suppliers............N290 Cheques paid to suppliers..............N42300 Returns outwards.......................N2000 Discount received from suppliers.......N400 The balance of the purchases ledger control account is?

Which of the following item is found on the credit side of the sales ledger control account?

If the assets and liabilities of a firm were valued at N17,200 and N5,120 respectively, the capital of the firm would be?

Use the information below to answer questions Zazzau Company: Cash in hand................N50 Cash in bank................N1 250 Stock.......................N4 880 Furniture...................N9 60 Building....................N5 500 Debtor......................N1 750 Creditors...................N2 150 Drawings of N125 were made by the shareholders of the company. The capital of the company stands at?

Use the information below to answer questions 25 and26. Zazzau Company: Cash in hand................N50 Cash in bank................N1 250 Stock.......................N4 880 Furniture...................N9 60 Building....................N5 500 Debtor......................N1 750 Creditors...................N2 150 Drawings of N125 were made by the shareholders of the company. They company's net current assets amount to?

A component of an overhead manufacturing cost is?

Use the information below to answer questions Direct labour...................N50 000 Beginning work-in-progress......N4 000 Raw materials used..............N18 000 Indirect labour.................N4 000 Ending finished goods...........N16 000 Ending work-in-progress.........N9 000 Factory supplies used...........N7 000 Selling expenses................N25 000 Beginning finished goods........N21 000 Other factory overheads.........N19 000 What is the cost of goods manufactured?

Use the information below to answer questions Direct labour...................N50 000 Beginning work-in-progress......N4 000 Raw materials used..............N18 000 Indirect labour.................N4 000 Ending finished goods...........N16 000 Ending work-in-progress.........N9 000 Factory supplies used...........N7 000 Selling expenses................N25 000 Beginning finished goods........N21 000 Other factory overheads.........N19 000 Calculate the prime cost?

Use the information below to answer questions Purchase:..Raw materials.................N15 000 Finished goods...........................N11 400 Stock:....(1/7/01)Raw materials..........N2 250 Work-in-progress.........................N1 875 Wages:.....Direct........................N17 100 Indirect.................................N5 400 Stock:.....(30/06/02)Raw materials.......N3 000 Work-in-progress.........................N3 375 The cost of raw materials consumed is?

Use the information below to answer questions Purchase:..Raw materials.................N15 000 Finished goods...........................N11 400 Stock:....(1/7/01)Raw materials..........N2 250 Work-in-progress.........................N1 875 Wages:.....Direct........................N17 100 Indirect.................................N5 400 Stock:.....(30/06/02)Raw materials.......N3 000 Work-in-progress.........................N3 375 What is the cost of manufactured goods?