JAMB Past Questions and Answers - Page 939

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

Assuming all the investments realized N4m, what will be the ending fund balance?

Given:

Authorized Capital: N100,000 ordinary shares of N1 each
Issued and fully paid:
50,000 ordinary shares of N1 each 50,000
10, 000 8% perference shares
of N 1 each
Reserves 10,000
Creditors 25,000
Debtors 13 000
Cash in hand 5000

Calculate the shareholders fund

Given:

Authorized Capital: N100,000 ordinary shares of N1 each
Issued and fully paid:
50,000 ordinary shares of N 1 each 50,000
10, 000 8% perference shares
of N 1 each 
Reserves 10,000
Creditors 25,000
Debtors 13,000
Cash in hand 5000

Determine the net current assets

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

What is the capital from the opening balance sheet?

Given

Dept A Dept B
Floor space 40meter square 60meter square 
Machine hours 1200 1400
Turnover N36 million N64 million
Labour hours 1000 1400
A joint cost of N72 million incurred by the two departments was apportioned N30 million to A and N42 million to B. the basis used for apportionment must have been