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The expenses are for three different product:
Zema, Zeta and Zera. They are appointed on the basis of population. 4500 units of the products are produced, out of which 1260 and 2060 units are for zema and zeta respectively.
The expenses are for three different product:
Zema, Zeta and Zera. They are appointed on the basis of population. 4500 units of the products are produced, out of which 1260 and 2060 units are for zema and zeta respectively.
The lighting charge to be apportioned to zema is?
AN891
BN819
CN927
DN975
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Question 46
jamb2007
The amount of subscriptions accrued is reported in the balance sheet under?
Afixed asset
Blong-term liability
Ccurrent asset
Dcurrent liability
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Question 47
jamb2007
Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid N30 000 for goodwill , this amount would be?
Acredited to Takwa's current acount
Bdebited to goodwill account
Cshare to all the partners' capital account
Dcredited to the old partners' capital account
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Question 48
jamb2007
the receipt and payment s acpunt of a not-for-profit-making organization plays a similar role in a profit-making organization as?
Aa cash acount
Ba balance sheet
Can income account
Dan expenses account
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Question 49
jamb2007
Given:
Shaku Company Ltd.
Stock..........................N3600 000
Cash at hand...................N800 000
Cash at bank...................N2400 000
Debtors........................N580 000
Trade creditors................N920 000
Bank overdraft.................N200 000
Tax liabilities................N600 000
Salary owed to staff...........N180 000
Determine the working capital?
AN7380 000
BN8480 000
CN5480 000
DN6480 000
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Question 50
jamb2007
Use the information below to answer question
A company's authorized share capital was one million ordinary shares at N1 each. Issued 80% of its shares at N1.10 per share. 70k was payable on application, 25k on allotment, 10k due on first call and the balance on second call.
The total amount of money received on application was?
AN560 000
BN220 000
CN800 000
DN1000 000
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Question 51
jamb2007
Use the information below to answer question .
A company's authorized share capital was one million ordinary shares at N1 each. Issued 80% of its shares at N1.10 per share. 70k was payable on application, 25k on allotment, 10k due on first call and the balance on second call.
What would be the total amount received on second call?
AN240 000
BN280 000
CN40 000
DN56 000
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Question 52
jamb2007
An accounting ratio that considers only quick assets to determine the short-term safety margin of a firm is the?
Afixed assets ratio
Bcapital gearing ratio
Ccurrent assets ratio
Dacid test ratio
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Question 53
jamb2007
Goods worth N50 000 were sent at different times from head office to the branch during the year.
By the end of the period, only N40 000 worth of goods had arrived at the branch. Which of the following is correct about the treatment of this transaction?
ABranch should debit goods received from head ofice with N50 000
BHead office should debit goods sent to branch account with N10 000
CHead office should debit goods sent to branch account with N50 000
DBranch should debit goods received from head office with N10 000
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Question 54
jamb2007
In the trading and profit and loss account of a manufacturing organization, purchases is?
Aalways the same amount as the total factory overhead cost
Bgiven separately
Cequivalent to the total cost of goods manufactured
Dalways the same as the prime cost
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Question 55
jamb2007
Expense paid during the conversion of a partnership to a company are?
Adebited to the partners' capital account
Bdebited to the realization account
Cdebited to the cash account
Dcredited to the realization account
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Question 56
jamb2007
Use the information below to answer question .
Stock (1/1/02) at selling price..........N2000
Goods sent to branch (selling price).....N?
Sales by branch (selling price)..........N4500
Stock (31/12/02).........................N?
Opening stock is 1/4 of goods sent to branch.
The value of goods sent to branch is?
AN4 000
BN6 000
CN8 000
DN2 000
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Question 57
jamb2007
Use the information below to answer question
Stock (1/1/02) at selling price..........N2000
Goods sent to branch (selling price).....N?
Sales by branch (selling price)..........N4500
Stock (31/12/02).........................N?
Opening stock is 1/4 of goods sent to branch.
Determine the closing stock?
AN5 500
BN6 500
CN2 500
DN4 500
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Question 58
jamb2007
(i) Profits and looses will be shared unequally.
(ii) Interest is not allowed on capital.
(iii) Salaries are not allowed.
(iv) Interest is charged on drawings.
From the above, which of the following would apply where there is no agreement during partnership formation?
Ai only
Bi, ii and iii
Ci, ii and iv
Dii and iii
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Question 59
jamb2007
Given:
Stock at start:
Raw materials................N57 000
Work-in-progress.............N42 000
Finished goods...............N71 000
Purchase of raw materials amount to N81 000, direct labour is N38 000 and factory overhead N29 000.
Calculate the prime cost?
AN176 000
BN170 000
CN167 000
DN156 000
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Question 60
jamb2007
Use the information below to answer questions.
Entrance fees.........................N1200
Subscriptions(including N850 arrears).N4310
Donations received....................N1500
Proceeds from sales...................N2300
Total payments........................N8200
Depreciation..........................N2100
Closing cash balance..................N1110
The club deposited 200% of the closing cash balance in he bank during the period.
Calculate the total figure for the receipt and payments account?
