JAMB Accounting Past Questions & Answers - Page 211

The first step in converting as single entry to a double entry system of bookkeeping is to prepare a?

A company has departments M and N. The expenses incurred wholly in M is N5000. General expenses incurred amount toN25000. Expenses are apportioned in the ratio 2:3 for departments M and N respectively. 
What is N's share of the expense?

PQ Manufacturing Company

Raw materials (1/11/2001)...........N3,500
Raw materials (31/12/2001)..........N4,900
Purchase of raw materials...........N56,000
Salary .............................N63,000
Wages...........................N148,000
Factory lighting ................N3,080
Plant Depreciation.............N2,800
Factory Insurance ..............N2,170

The company consumed raw materials worth?

PQ Manufacturing Company

Raw materials (1/11/2001)...........N3 500
Raw materials (31/12/2001)..........N4 900
Purchase of raw materials...........N56 000
Salary .............................N63,000
Wages............................N148,000
Factory lighting .................N3,080
Plant Depreciation..............N2,800
Factory Insurance ..............N2,170

The overhead cost is?

During the year ended 31st December 2001, 
Nuju Enterprises paid rent as follows:
Jan. 20, N24 000 for a period of 4 months. 
May. 16, N30 000 for a period of 5 months.
Oct. 15, N36 000 for a period of 6 months.

What is the overpaid portion of the rent?