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Recurrent expenditure is
The cost of a machine is ₦10,000. The residual value is ₦4,000. It is expected to last for 4 years. Using the straight line method, what is the amount of depreciation charged per annum?
A fall or decrease in the economic service potential of an asset as a result of wear, tear and obsolescence is referred to as
Use the following Information to answer this question.
Stock of finished goods: Jan 1st Dec 31st Stock of Raw materials: Jan 1st Dec 31st Purchase of Raw Materials Manufacturing Wages Depreciation: Factory equipment Direct expenses Factory Fuel Carriage inwards on Raw Materials |
₦ 50,640 71,380 32,160 29,640 145,000 52,000 16,500 12,500 7,000 7,000 |
Use the following Information to answer this question.
Stock of finished goods: Jan 1st Dec 31st Stock of Raw materials: Jan 1st Dec 31st Purchase of Raw Materials Manufacturing Wages Depreciation: Factory equipment Direct expenses Factory Fuel Carriage inwards on Raw Materials |
₦ 50,640 71,380 32,160 29,640 145,000 52,000 16,500 12,500 7,000 7,000 |
Cost of raw materials consumed is
Which of these will not appear in the preparation of control account.
I. Bad debts
II. Discounts
III. Returns
IV. Provision for bad debts
What is the opening cash balance
The figure ₦1000 represent what in the balance sheet.
Calculate the subscriptions in the Income and expenditure account
The rate of interest on capital for Ade is
Sam's share of profit is
Retained profits is an example of
Given:
Ordinary share dividend ₦100,000, General reserve ₦4,100, Net profit b/d ₦27,370, corporation tax ₦2,500, Profit and loss ₦28,200, Interim ordinary dividend ₦4,050, Goodwill 20,50 provide for preference Dividend ₦2100 and Final ordinary Dividend of 5% and also write off Goodwill at ₦1500.
The retained profit in the Appropriation account is
The Unissued capital of the company is
The company's paid-up capital is
Mr Ojo gives you the following information on 31st July 2017
Opening Stock 7,000
Closing Stock 12,000
Purchases 60,000
Expenses 4,500
Uniform margin of 33 \(\frac{1}{3}\) %
You are required to calculate the sales
Calculate the net profit on percentage of expenses.
What is the Gross Profit on percentage of sale?
If only wages is shown on the trial balance, it should be charged to the
Goods were purchased for resale on credit costing ₦150,000 on 30th September 2008 from Tosanwumi International. The entry to record these transaction is debit