2009 - JAMB Accounting Past Questions and Answers - page 3

Apart from the common control accounts, a control account can also be opened for?

Which of the following is a debit item in the purchases ledger control account.

Which of the following is an item in the debit side of the sales ledger control account?

The cost incurred by departments that support the production departments with such activities as maintenance, production control and storage are called?

Use the information below to answer questions 29 and 30.

Work-in-progress 1/1........................N1,000
Work-in-progress 31/12......................N2,000
Production cost of goods manufactured.......N20,000
Sales.......................................N50,000
Stock of finished goods 1/1.................N4,000
Stock of finished goods 31/12...............N5,000
Selling and distribution expenses...........N2,000
Administrative expenses.....................N1,000

Determine the gross profit?

What is the net profit?

Receipt and payments account is a summary of the?

Given:

Furniture and fittings..................N20,000
Equipment...............................N15,000
Bank overdrafts.........................N6, 500
Bar creditors...........................N4,800
Subscription in arrears.................N4,700
Subscription in advance.................N650

What is the accumulated fund?

i Space occupied by each department.
ii Average value of stock held by each department.
iii Departmental turnover.
iv Number of articles sold by each department .

From the information above, the two most logical bases for apportioning expenses that are common to departments are?

Use the information to answer questions 334 and 35.

.........................Departments
...........................P..........Q...........R
Sales value...............N?........N23,400....N?
Selling expenses..........N1,100....N1,400.....N1,280
Administrative expenses...N1,400....N1,000.....N1,020
Cost of sales.............N6,900....N6,700.....N5,500

Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to N1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.

What is the sales value of department R?