JAMB Past Questions and Answers - Page 938

Date.............QTY. .....RATE........TOTAL
...............(Units).....N...........N
January 2nd....500......25.....12500
March 7th.....250......28........7000
Issues were made as follows:
Date............QTY. (uNITS)
January 9th .....200
February 14th ...200
March 11th ......200

The closing stock on March 11th by LIFO valuation is

The value of x is

What is the stock valuation method used?

Given:

N               N
Capital 200,000 total assets 210,000
Liabilities 10,000
210,000 210,000
If the business is purchased at a price including a goodwill of N20,000, what must have been the purchase price?

Given:

PTF Trial Balance [Extract] as at 31 December, 1999
Dr Cr
N'000 N '000
Cash 2,000
Investments 3,000
Accounts receivable 6,000 11,000
Fund balance 11,000 11,000

If only 1/2 of the investments is sold for N2m and N5m realized from the accounts receivable what will be the balance of the fund?