by Sunday | Dec 5 | Accounting JAMB
A. cash and credit stationery B. purchase and credit stationery C. stationery and credit cash D. stationery and credit purchases Correct Answer: Option C – stationery and credit cash
by Sunday | Dec 5 | Accounting JAMB
Use the information to answer the question. ……………………..30/9/06…….30/9/07….. ……………………….N………….N……… Accrued...
by Sunday | Dec 5 | Accounting JAMB
Use the information to answer the question. ……………………..30/9/06…….30/9/07….. ……………………….N………….N……… Accrued...
by Sunday | Dec 5 | Accounting JAMB
A. N95,600 B. N95,000 C. N90,600 D. N85,000 Correct Answer: Option C – N90,600 Explanation opening stock + cost of goods sold – closing stock = purchase Remember COGS was given as; cost of goods sold = sales – profit (10% of sales) 100,000 –...
by Sunday | Dec 5 | Accounting JAMB
A. N10,000 B. N90,000 C. N105,600 D. N110,000 Correct Answer: Option B – N90,000 Explanation 10/100 x 100,000 = 10,000 cost of goods sold = sales – profit 100,000 – 10,000 = 90,000