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.
Determine the net profit of the business?
A N6600
B N6271
C N5353
D N7224
Answer is B
Tag:2006 Jamb Accounting, Jamb, Jamb 2006 accounting questions and answers, Jamb 2006 financial accounting questions and answers, Jamb Accounting, Jamb accounting past questions, Jamb accounting past questions and answers, Jamb Accounts, Jamb financial accounting, Jamb financial accounting questions and answers, Jamb past questions and answers on accounting, Jamb past questions and answers on financial accounting, Joint Admissions and Matriculation Board
