2013 - JAMB Accounting Past Questions and Answers - page 3
Given:
Opening capital - #50,000
Closing capital - #64,000
Drawings - #16,000
Determine the net profit
The estimated profit or loss for a period is calculated by
Given:
Drawings - #3,500
Net loss - #2,500
Capital 1/1/2007 - #35,000
Additional capital - #10,000
The adjusted capital as at 31/1/2007 is
When goods produced are transferrd at cost plus mark-up sale, the difference between the cost and the transferred price is a
The addition of prime cost, indirect cost and opening work-in-progress less the closing work-in-progress will result in cost of
Opening stock of raw materials - #75,000
Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000
Direct wages - #30,000
Carriages of raw materials - #10,000
Calculate the cost of raw materials used
Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000
Direct wages - #30,000
Carriages of raw materials - #10,000
Determine the prime cost
In manufacturing account, the work-in-progress at the end of the year is
Which of the following is accounted for in receipts and payment account
Which of the following expenses relates to the profit and loss account of a manufacturing firm