Question on: JAMB Accounting - 1999
Use the information below to Answer questions 46 and 47.
Among Limited invoiced goods at a cost of N10,000 to its Ikeja branch at a marginal of 20%. The branch later returned goods worth N1,200 at invoice price to the head office.
The profit marginal should be?
Among Limited invoiced goods at a cost of N10,000 to its Ikeja branch at a marginal of 20%. The branch later returned goods worth N1,200 at invoice price to the head office.
The profit marginal should be?
A
debit to goods sent to branch account
B
debit to branch stock adjustment account
C
credit to branch adjustment account
D
credit to branch stock adjustment account
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Correct Option: D
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