Accounting Questions and Answers

.........................     Departments
...........................                      P                Q                R
Sales value...............                           N23,400
Selling expenses..........      1,100         N1,400         N1,280
Administrative expenses...N1,400       N1,000          N1,020
Cost of sales.............      N6,900....    N6,700           N5,500

Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to N1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.

Determine the total expenses of department P?

.....................Departments
.....................   P                Q                R
Sales value...............                           N23,400
Selling expenses..........      1,100         N1,400         N1,280
Administrative expenses...N1,400       N1,000          N1,020
Cost of sales.............      N6,900....    N6,700           N5,500

Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to N1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.

What is the sales value of department R?

 

i. Space occupied by each department.
ii. Average value of stock held by each department.
iii. Departmental turnover.
iv. Number of articles sold by each department .

From the information above, the two most logical bases for apportioning expenses that are common to departments are?

Given:

Furniture and fittings..................N20,000
Equipment...............................N15,000
Bank overdrafts.........................N6, 500
Bar creditors...........................N4,800
Subscription in arrears.................N4,700
Subscription in advance.................N650

What is the accumulated fund?

Receipt and payments account is a summary of the?