Trading account for the year ended 31st December 2009
...Use the information below to answer question:
Trading account for the year ended 31st December 2009
| ₦ | ₦ |
| Opening Stock 32,000 | Sales 48,000 |
| Purchases 40,000 | Less Return 2,000 |
| Carriage inwards 1,000 | |
| 41,000 | |
| Less Return 2,000 39,000 | |
| Cost of goods available ?? | |
| Less closing stock 9,000 | |
| Cost of goods sold ?? |
Calculate the cost of goods sold
61,000
62,000
58,000
57,000
Correct answer is B
Cost of goods sold is the direct costs attributable to the production of the goods sold in a company.
Cost of goods available for sale (32000 + 39000) = 71000
Less closing stock = 9000
Cost of goods sold = 7100 - 9000
= 62000
The excess of sales over cost of goods sold is ...
A part of public company's profit belonging to the shareholders is ...
Issue of prospectus is an invitation to members of the public to ...
Use the following to answer the given question \(\begin{array}{c|c} & N & & N \\ \h...
Where there is provision for depreciation, fixed asset is shown in the balance sheet at i. c...
Payment to creditors ₦12,250 Creditors at start ₦550 Creditors at end ₦830 What is the cr...
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...