2006 - JAMB Accounting Past Questions and Answers - page 5

LOAN IS 30% OF CREDITORS.

A company has departments S,T and U. The sales are N20 000,20 000, N40 000 AND N60 000 respectively if the sales commission paid is N12 000, how much is T's share?

Head office sends goods to its branch at cost plus mark-up of of 25%. A debit of N40,000 to the branch stock account in the head office books will indicate that the head office has sent goods with a profit of

Which of the following is a journal as well as a ledger?

On Jan. 30 Khalifa withdraw N2500 from the bank for office use.

The cash balance at end of the month was

What was the bank balance at the end of the month?

The value of Y is

X represents

Assuming the closing stock was valued at N19 000 at the end of November, what was the gross profit?

Determine the value of closing stock using the LIFO method