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The authorized capital of city entertainment company is made up of 200,000 2\(\frac{1}{2}\)% preference shares of Le 60 each and 300,000 ordinary shares have been issued at Le 30 each and fully paid. All the preference dividend and recommended ordinary divided Le 0.10 per share. Using the following information, What is the amount of the share premium?
ALe 9,000,000
BLe 500,000
CLe 3,000,000
DLe 2,400,000
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Question 372
waec2009
The authorized capital of city entertainment company is made up of 200,000 2\(\frac{1}{2}\)% preference shares of Le 60 each and 300,000 ordinary shares have been issued at Le 30 each and fully paid. All the preference dividend and recommended ordinary divided Le 0.10 per share. Using the following information, what is the amount of preference dividend and recommended ordinary divided of Le 0.10 per share
ALe 600,000
BLe 500,000
CLe 3,00,000
DLe 5,000
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Question 373
waec2009
In a not for profit making organization, the excess of income over expenditure is
Aadded to capital
Badded to accumulated fund
Cdeduced from capital
Ddeducted from accumulated fund
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Question 374
waec2009
Programs installed in computers to facilitate processing of data are
Ahardwares
Bsoftware
Cmagnetic tapes
Ddiskettes
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Question 375
waec2009
The document making a public offer for he sale of a company's share is
Amemorandum of association
Barticles of association
Cprospectus
Dcertificate of registration
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Question 376
waec2009
The purchase of a typewriter for office use for ₦2,000 is debited to
Acreditors
Bbank account
Cpurchases account
Dequipment account
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Question 377
waec2009
Which of the following does not appear in a bank statement?
Adividend received
Bbank charges
Cuncredited cheques
Ddishonoured cheques
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Question 378
waec2009
Cost of extension to a factory building is classified as
Acapital receipt
Brevenue expenditure
Ccapital expenditure
Drevenue receipt
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Question 379
waec2009
Which of the following is not part of factory overhead?
Afactory salaries
Bfactory lighting and heating
Cdepreciation of plant and machinery
Ddepreciation of furniture and fixtures
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Question 380
waec2009
The total debtors account of trading concern is N13,000. out of this 2% is irrecoverable, 5% of the balance is not like to be collected. What is the provision for doubtful debts?
AN910
BN650
CN637
DN260
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Question 381
waec2009
A three column cash book contains column for
Acash, assets and liabilities
Bbank, cash and assets
Ccash, bank and return
Ddscount, cash and bank
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Question 382
waec2009
A difference between the debit and credit totals in a trial balance is placed in
Abank reconciliation statement
Bprofit and loss account
Csuspense account
Dappropriate account
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Question 383
waec2009
Which of the following is not a source of revenue for local government?
Amining royaltyies
Bradio and TV licences
Ctenement/property rates
Dbusiness permit fee
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Question 384
waec2009
"Financial statements do not a disclose all information users need to know about a firm" This is the concept of
Aconsistency
Bmoney measurement
Cdual aspect
Dmateriality
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Question 385
waec2009
Use the following information to answer the given question
\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns of raw materials} & 4,750\\ \text{Carriage on raw materials} & 44,000\\ \text{Stock of raw materials at close} & 39,500 \\ \text{Factory fuel} & 3150,000\\ \text{Direct wages} & 205,000\\ \text{Indirect wages} & 31, 250\\ \text{Factory power} & 105,000\\ \text{Work-in-progress at start} & 32,500\end{array}\)
The total factory overhead is
AD 318,750
BD 286,250
CD 255,000
DD 236,250
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Question 386
waec2009
Use the following information to answer the given question
\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns of raw materials} & 4,750\\ \text{Carriage on raw materials} & 44,000\\ \text{Stock of raw materials at close} & 39,500 \\ \text{Factory fuel} & 150,000\\ \text{Direct wages} & 205,000\\ \text{Indirect wages} & 31, 250\\ \text{Factory power} & 3105,000\\ \text{Work-in-progress at start} & 32,500\end{array}\)
What is the prime cost???
AD 717,500
BD 231,250
CD 286,250
DD 270,500
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Question 387
waec2009
Use the following information to answer the given question
\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns of raw materials} & 4,750\\ \text{Carriage on raw materials} & 44,000\\ \text{Stock of raw materials at close} & 39,500 \\ \text{Factory fuel} & 150,000\\ \text{Direct wages} & 205,000\\ \text{Indirect wages} & 31, 250\\ \text{Factory power} & 3105,000\\ \text{Work-in-progress at start} & 32,500\end{array}\)
What is the value of raw materials used?
AD 270,500
BD 286,250
CD 255,000
DD 236,250
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Question 388
waec2009
A document which acknowledge that a company owes a person a stated sum of money with an agreement to pay a fixed rate of interest periodically is
Ashare certificate
Ballotment certificate
Cpreference certificate
Ddebenture certifate
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Question 389
waec2009
Rent is apportioned each department on the basis of
Aarea or space occupied
Bequuality
Cturnover
Dpurchases
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Question 390
waec2009
Which of the following is not part of the cost of production
