If you are preparing for an accounting aptitude test or even a job interview, these accounting questions and answers will help you master the principles of accounting. This test covers accounting past questions from WAEC, JAMB, Post UTME exams and many more.
Use the information below to answer this question.
7000
4921
3000
991.8
Correct answer is D
No explanation has been provided for this answer.
Retained profits is an example of
Revenue reserve
Capital reserves
General reserves
Loan capital
Correct answer is A
Retained profit is part of the part of the profits of an organization not distributed as dividends but ploughed back into the business for expansion.
₦55,570
₦36,320
₦50,000
₦30,000
Correct answer is B
Ordinary share dividend = 5% × 10,000 = 5000
Retained profit = (27,370 + 28,000 - 4100 + 1500 - 4050 + 5000 + 2100 + 2500)
⇒ 55,570 - 19,250 = ₦36,320
Use the following to answer this question.
₦310,000
₦200,000
₦210,000
₦100,000
Correct answer is D
Unissuer capital is the total amount which has not been issued out on the authorized, nominal or registered capital.
Therefore, unissued capital = Authorized
capital - issued capital which is :
200,000 - 100,000 = ₦100,000
Use the following to answer this question.
₦70,000
₦80,000
₦220,000
₦120,000
Correct answer is B
Paid up capital is the total amount paid up or credited as paid up, on the issued share capital.
From the question above, the issued share capital is ₦100,000 and two of the shareholder owes ₦20,000. Therefore, the paid up is 100,000 - 20,000 = ₦80,000.