Credit purchases are always put at 150% of the total cash paid to suppliers Determine the credit purchases A N13 500 B N15 500 C N13 400 D N12 000 Answer is D
Credit purchases are always put at 150% of the total cash paid to suppliers Calculate the closing balance of the ledger account A N6 900 B N6400 C N5000 D N4000 Answer is C
Use the information to answer this question Date………….Details…………………… Feb……..1 Purchased 400 units at N1.00 each ,, ……..5 Purchased 200 units at N2.00 each ,,………10 Purchased 200 units at N300 each ,, ………15 Issued 320 units ,,……….20 Issued 200 units at …
Use the information to answer this question Date………….Details…………………… Feb……..1 Purchased 400 units at N1.00 each ,, ……..5 Purchased 200 units at N2.00 each ,,………10 Purchased 200 units at N300 each ,, ………15 Issued 320 units ,,……….20 Issued 200 units at …
Use the information below to answer this questions Capital………………N…………N…….. Land and building…….18470……..24000…. Mortgage on premises……………….11090… Drawings……………3000………………. Profit and loss……………………3600… Furniture and fittings…5120…………….. Motor Vehicles………..3462……………. Closing Stock…………3000……………. Debtors………………11474…………… Creditors…………………………7354. Cash…………………1518……………. ……………………..46044………46044 Calculate the value of fixed assets A N15 992 B …
Use the information below to answer this questions Capital………………N…………N…….. Land and building…….18470……..24000…. Mortgage on premises……………….11090… Drawings……………3000………………. Profit and loss……………………3600… Furniture and fittings…5120…………….. Motor Vehicles………..3462……………. Closing Stock…………3000……………. Debtors………………11474…………… Creditors…………………………7354. Cash…………………1518……………. ……………………..46044………46044 What is the capital employed? A N44 600 B N43 …
What is the consolidated revenue fund balance? A N1100,000 B N680,000 C N440,000 D N410,000 Answer is A
Use the information to answer this question. …………..ZEBRA PLC………….. ………….Balance sheet as at 31st March, 2002 ……………N……………N…………N…… Capital……100,000…Fixed assets: Current…………….Land &……………… Liabilities………..buildings..50,000…… Creditors……..30000..Furniture..10,000….60,000 …………………..Current……………… …………………..Assets: ……. ………………Stock ………30,000……….. ………………Debtors…….30,000…………. ………………Cash……….10,000……70,000.. ………….130,000…………………….130,000 The business was acquired on 1st April, 2002 at …
Use the information to answer this question. …………..ZEBRA PLC………….. ………….Balance sheet as at 31st March, 2002 ……………N……………N…………N…… Capital……100,000…Fixed assets: Current…………….Land &……………… Liabilities………..buildings..50,000…… Creditors……..30000..Furniture..10,000….60,000 …………………..Current……………… …………………..Assets: ……. ………………Stock ………30,000……….. ………………Debtors…….30,000…………. ………………Cash……….10,000……70,000.. ………….130,000…………………….130,000 The business was acquired on 1st April, 2002 at …
Use the information below to answer question . Capital ……………….N2000 Bank ………………….N1200 Purchase ………………N2500 Sales …………………N6700 Stock …………………N1300 Creditors ……………..N1000 Fixed assets……………N3700 Drawings ………………N? Drawings are always estimated at 50% of capital. Compute the amount withdrawn A N2000 B N1500 …
Mamsa Nigeria Limited issued 20 000 ordinary shares of N1.50 per share on 2nd July 2002. 1500 ordinary shares were fully subscribed for and their monies received as below: On application …………………….N0.40 On allotment ………………………N0.20 First call (including premium ofN0.50)..N0.70 …
Gross profit in the branch adjustment account is transferred to the branch? A trading account B receipts and payments account C profit and loss account D income and expenditure account Answer is C