JAMB Accounting Past Questions & Answers - Page 181

Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid N30 000 for goodwill, this amount would be?

The receipt and payment s acpunt of a not-for-profit-making organization plays a similar role in a profit-making organization as?

Given:

Shaku Company Ltd.
Stock..........................N3,600,000
Cash at hand...................N800,000
Cash at bank...................N2,400,000
Debtors........................N580,000
Trade creditors................N920,000
Bank overdraft.................N200,000
Tax liabilities................N600,000
Salary owed to staff...........N180,000

Determine the working capital?

A company's authorized share capital was one million ordinary shares at N1 each. Issued 80% of its shares at N1.10 per share. 70k was payable on application, 25k on allotment, 10k due on first call and the balance on second call.

The total amount of money received on application was?

A company's authorized share capital was one million ordinary shares at N1 each. Issued 80% of its shares at N1.10 per share. 70k was payable on application, 25k on allotment, 10k due on first call and the balance on second call.

What would be the total amount received on second call?