Accounts - Principles of Accounts Past Questions and Answers

Which of the following items does not feature in the balance sheet of a club?

A Arrears of current year's subscription
B Salary arrears paid in the current year
C Rental income received in advance
D Advances subscription in respect of a coming year

Question 252:

An outright sale of a partnership amounts to the?

A Compensation of vendors by the purchase
B Admission of a new partner
C Purchase of rights of a dead partner
D Change of sharing ratio of vendors

Question 253:

Given: Opening cash balance N20,000 Sales of match tickets N15,000 Clearing of pitch N1,200 Refreshments N3,500 Referees' allowance N1,000 Cost of petrol N1,120 Donation from local government N3,800 The club's balance is?

A N39,180
B N34,830
C N34,380
D N31,980

Question 254:

Use the information below to answer question Maimalari Ltd had (i) Earning per share 47k (ii) Dividend per share 30k (iii) Par value of each share N1.20 (iv) Market price per share N1.50 The company's earning yield is?

A 20.00%
B 25.00%
C 31.33%
D 39.17%

Question 255:

Use the information below to answer question Maimalari Ltd had (i) Earning per share 47k (ii) Dividend per share 30k (iii) Par value of each share N1.20 (iv) Market price per share N1.50 What will be the price earnings ratio of the company?

A 3.91
B 3.19
C 2.95
D 2.55