2006 - JAMB Accounting Past Questions and Answers - page 3

Adaobi mistakenly entered N7000 as credit sales in Abba's account. This is?

Use the information below to answer question Capital.................................N60 000 Bank....................................N12 500 General expenses........................N5 250 Creditors...............................N17 000 Stock...................................N98 500 Fixed assets............................N42 000 Insurance and rates.....................N18 800 Purchase................................N63 850 What is the cash balance on the debit side if it is the only item omitted?

Use the information below to answer question Capital.................................N60 000 Bank....................................N12 500 General expenses........................N5 250 Creditors...............................N17 000 Stock...................................N98 500 Fixed assets............................N42 000 Insurance and rates.....................N18 800 Purchase................................N63 850 Determine the total of the trial balance?

Given: Stock of raw materials 1/40............N11 150 Purchases of raw materials.............N112 550 Raw material returned..................N31 150 Stock of Raw materials 31/12/04........N27 150 Calculate the cost of raw materials consumed?

Use the information below were to answer questions ...................Stationary Dept.............Video Dept. Sales ..............N10,600.....................N15,175 Cost of goods sold..N5,247......................N6704 The expenses incurred were rent N4500, motor repairs N1200 and telephone N900. The basis of cost apportionment is 1/2 stationary 1/3 video. Determine the net profit of the business?

Use the information below were to answer questions ...................Stationary Dept.............Video Dept. Sales ..............N10,600.....................N15,175 Cost of goods sold..N5,247......................N6704 The expenses incurred were rent N4500, motor repairs N1200 and telephone N900. The basis of cost apportionment is 1/2 stationary 1/3 video. Find the total expenses allocated to the stationary department?

Stock 1/1/2002..................................N40 000 Goods received from head office.................N800 000 Goods returned to head office...................N34 000 Sales...........................................N916000 Stock 31/12/2000................................N72 000 From the data above determine the cost of goods credited to the head office trading account.

Use the information below to answer question . Prime cost..................N12 100 lighting....................N10 000 Heating.....................N15 000 Factory overhead............? The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively. The factory overhead is?

Use the information below to answer question . Prime cost..................N12 100 lighting....................N10 000 Heating.....................N15 000 Factory overhead............? The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively. Interest on the drawings of partners is treated in the?

Departmentalization of accounts is useful because it shows the?