Accounting

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

A. N30 000 B. N50 000 C. N70 000 D. N100 000 Correct Answer: Option B - N50 000

5 years ago

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections. What is the closing cash balance?

A. N35 000 B. N211 000 C. N5 000 D. N10 000 Correct Answer: Option C - N10 000

5 years ago

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

A. N7 000 B. N6 500 C. N 7 500 D. N 9 000 Correct Answer: Option B - N6…

5 years ago

On Jan. 30 Khalifa withdraw N2500 from the bank for office use. The cash balance at end of the month was?

A. N1 600 B. N4 100 C. N 6 600 D. N6 100 Correct Answer: Option B - N 6…

5 years ago

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

A. Nominal ledger B. Sales day book C. General ledger D. cash book Correct Answer: Option B - Sales day…

5 years ago

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?

A. N4000 B. N6000 C. N10000 D. N8000 Correct Answer: Option D - N8000

5 years ago

What is the capital balance?

LOAN IS 30% OF CREDITORS. A. N1000 B. N2 100 C. N900 D. N1200 Correct Answer: Option B - N2…

5 years ago

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections. The subscriptions received would be?

A. N200 000 B. N240 000 C. N300 000 D. N24 000 Correct Answer: Option B - N240 000

5 years ago

In converting a to a partnership company; the loss on asset revaluation is?

A. debited to the revaluation account B. debited to the profit and loss account C. credited to the revaluation account…

5 years ago

Determine the opening cash balance of the club?

MPOBA Club's annual donations from members amount to 112% of its internally generated revenue from the following. Sales of drinks...................N212…

5 years ago
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