by Sunday | Dec 7 | Accounting JAMB
Jumoke and Kunle have an original investment of N25,000 and N15,000 respectively in a partnership. The articles of partnership provides 3% interest on capital and salaries of N1,500 and N1,000 respectively for the partners. The profits and losses are to be shared in...
by Sunday | Dec 7 | Accounting JAMB
A. partnership agreement B. Articles of association C. goodwill D. capital balances Correct Answer: Option D – capital balances
by Sunday | Dec 7 | Accounting JAMB
A. stock account and a credit to branch debtors’ account B. discount account and a credit to branch bank account C. stock account and a credit to branch bank account D. discount account and a credit to branch debtors’ account Correct Answer: Option D...
by Sunday | Dec 7 | Accounting JAMB
A. the same way as normal debtors’ transactions B. in a different way from normal debtors’ transactions C. as an addition to the production manager’s account D. as an addition to the production managers’ account Correct Answer: Option A –...
by Sunday | Dec 7 | Accounting JAMB
A. manufacturing accounts B. consolidated accounts C. departmental accounts D. joint venture accounts Correct Answer: Option C – departmental accounts