The formular for calculating depreciation using straight line method is
Cost-scrap value/useful life
Scrap value+sales/useful life
Sales-scrap value/useful life
Purshases+sales/useful life
Correct answer is A
No explanation has been provided for this answer.
The issued share capital is the number of shares that are
Shared among the directors
Authorised by the shareholders
Fully subscribed
In the share certificate
Correct answer is B
The issued share capital is the number of shares that are
55,000
82,500
27,500
50,000
Correct answer is B
Firstly, convert margin to mark-up i.e, 33 \(\frac{1}{3}\)% = \(\frac{100}{300}={1}{3-1}={1}{2}\) or 50% Secondly, Cost of goods sold = Opening stock + Purchases - Closing Stock C.p = 7,000 + 60,000 - 12,000 C.p = ₦55,000 Thirdly, Profit = 50% × 55,000 = ₦27,500 Therefore, Sales = Cp + P ⇒ 55,000 + 27,500 = ₦82,500
| ₦ | ₦ | |
| Sales less: cost of goods sold |
233,000 170,000 |
|
| 63,000 | ||
| less: Overhead Expenses Admin expenses Selling expenses Other overhead expenses |
16,800 15,000 6,200 |
|
| Net profit | 25,000 |
Calculate the net profit on percentage of expenses.
60%
25%
13%
65.7%
Correct answer is D
Net profit on % of expenses =
Net profit x 100
Expenses
= \(\frac{25000}{38000}\) x 100
= 65.7%
Use the information below to answer the question.
| Total | P | Q | Total | P | Q | ||
| ₦ | ₦ | ₦ | ₦ | ₦ | ₦ | ||
| Stock | 3,000 | 2,000 | 1,000 | Sales | 10,000 | 6,000 | 4,000 |
| Purchase | 4,000 | 2,500 | 1,500 | Closing Stock | 2,000 | 1,500 | 500 |
Goods worth #300 was transferred from department Q to P. Similarly, P’s total expenses for the period was #200.
Department P’s net profit was
2,500
2,800
3,000
5,200
Correct answer is A
No explanation has been provided for this answer.