| Opening stock | ₦ |
| Department A B |
100 800 |
| Purchases: A B Wages of workers Salaries |
1500 2000 50 100 |
| Sales A B |
3000 5000 |
Expenses are to be shared in the ratio of sales.
What was the cost of goods sold?
₦25,000
₦35,000
₦50,000
₦75,000
Correct answer is D
Cost of goods sold = Opening stock + Purchases - closing stocks
20,000 + 70,000 - 15,000
⇒ ₦75,000
The book value of the assets as at 31/12/86 was ...
Use the following information to answer the given question \(\begin{array}{c|c} & D\\ \hlin...
A suspense account is used in the ...
What is the value of stock as at the end of July 10 using FIFO? ...
The basic role of accounting is to? ...
A sales for N2,570 was recorded in the sales day book as N2750. The error committed was ...
........................1/7/2005............30/6/2006 Drawings......................................
Which of the following is not an example of a fictitious asset? ...
Use the following information to answer the given question \(\begin{array}{c|c} \text{Motor veh...