by Sunday | Dec 7 | Accounting JAMB
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for N31,500. A. N96 000 B. N48 000 C. N36 000 D. N24 000 Correct Answer: Option C – N36...
by Sunday | Dec 7 | Accounting JAMB
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for N31,500. A. N12 000 B. N60 000 C. N72 000 D. N84 000 Correct Answer: Option D – N84...
by Sunday | Dec 7 | Accounting JAMB
A. drawings B. purchases C. sales D. capital Correct Answer: Option B – purchases
by Sunday | Dec 7 | Accounting JAMB
Given: ………………………….Jan. 2003………Dec. 2003 Provision for bad debt……..N1000...
by Sunday | Dec 7 | Accounting JAMB
A. gross profit B. total profit C. net profit D. total revenue Correct Answer: Option A – gross profit
by Sunday | Dec 7 | Accounting JAMB
A. debit side B. credit side C. folio column D. memorandum column Correct Answer: Option A – debit side