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?
A
N10390
B
N9990
C
N9590
D
N9010
CORRECT OPTION:
c
42
Which of the following item is found on the credit side of the sales ledger control account?
A
Discount received
B
Dishonoured cheques
C
Credit sals
D
Bills receivable
CORRECT OPTION:
c
43
If the assets and liabilities of a firm were valued at N17,200 and N5,120 respectively, the capital of the firm would be?
A
N22 320
B
N17 200
C
N12 080
D
5 120
CORRECT OPTION:
c
44
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?
A
N12 240
B
N12 115
C
N2 510
D
N2 150
CORRECT OPTION:
a
45
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.