Accounts - Principles of Accounts Past Questions and Answers

Sundry debtors in the balance sheet of Onoja Bakery and Sons totalled N800,000. A provision of 2% was made for discount and 5% provision for bad and doubtful debts. Find the amount for sundry debtors after provision.

The starting point for the production of accounts from incomplete records is to ____

A factory cost excluding prime cost is ____

Given: N - Prime cost N220,000,<br/>Factory cost N32,000, Work in progress at beginning N25,000, Work In progress at close N19,000, Administrative expenses N21,000, Determine the production cost.

Given: N - Direct material N10,000,<br/>Direct labour N5,000, Direct expenses N2,000, Factory overhead N4,000. What is the prime cost?