JAMB Past Questions and Answers - Page 1351

Lubricating oil and spare parts of machinery are examples of?

Bar opening stock N10,000
Amount owed to bar suppliers at
the end the beginning of the year N10,000
Bar sales N50,000
Bar credit purchases N40,000
Payment to suppliers N30,000
Bar expenses N1,000
Bar closing stock N15,000

How much is owed to suppliers?

Bar opening stock N10,000
Amount owed to bar suppliers at 
the end the beginning of the year N10,000
Bar sales N50,000
Bar credit purchases N40,000
Payment to suppliers N30,000
Bar expenses N1,000
Bar closing stock N15,000

What is the bar profits?

Given:
Direct material N2,500
Direct labour N5,000
Direct expenses N1,000
Overhead expenses N1,500

From the data above, compute the prime cost?

Given: 31/12/98 31/12/99
Assets: Plant and Mach. N1,500 N1,200
Fixtures N700 N520
Stock N500 N600
Debtors N900 N400
Cash N200 N300
Liabilities: Creditor N500 N600
Loan N600 N400

Determine the total fixed assets from the opening balance sheet.