2018 - JAMB Accounting Past Questions and Answers - page 3
The amount paid by the new partner on admission as a compensation for the reputation built up by old partners is a
| N | |
|
Stock at branch 1st January at cost | 400 |
|
Goods sent to branch at cost | 8000 |
|
Returns to head office | 340 |
|
Cash sales | 9160 |
|
Stock at branch 31st December at cost | 720 |
Use the information below to answer the question.
Adex Ltd. Issues stock to its retail branches at cost price. The following particulars relate to Ede branch.
Which of the following methods of invoicing goods to branches facilitate easy checks on the activities of branches?
When goods are sent to branch at cost plus mark up, it means that the branch should sell at_____________
In departmental accounting, which is not a transfer pricing_________
What act generally includes completing unfinished partnership business, collecting and paying debts, collecting partnership assets to be turned into cash and taking inventory?
Using the following:
Balance as par overdraft of the cashbook is ₦4000 ,uncredited cheque is ₦2300, bank charges ₦300, unpresented cheque ₦5000.
what is the adjusted cashbook balance?
Branch stock adjustment account is prepared at?
A partnership deed is used to____________
The cost price method is applicable when_____