2019 - JAMB Accounting Past Questions and Answers - page 3

Which of these will not appear in the preparation of control account.
I. Bad debts
II. Discounts
III. Returns
IV. Provision for bad debts

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Cost of raw materials consumed is

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A fall or decrease in the economic service potential of an asset as a result of wear, tear and obsolescence is referred to as

The cost of a machine is ₦10,000. The residual value is ₦4,000. It is expected to last for 4 years. Using the straight line method, what is the amount of depreciation charged per annum?

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The following information were extracted from the books of Miliki state

Recurrent expenditure is

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The following information were extracted from the books of Miliki state

Capital expenditure is

Goods can be charged to branches using any of these pricing methods except

Abelawo ltd operates a retail branch at Aba. All purchases are made by the head office in Onitsha and goods are charged to the branch at cost plus 50%. During the year ended. Goods sent to branch at invoiced price is ₦30,870, cash sales ₦13,020 and Bad debt amounted to 129. From the following, what is the profit?

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Expenses are to be shared in the ratio of sales.

The cost of goods for department B is