Accounts - Principles of Accounts Past Questions and Answers

Use this information below to answer this question.
Trading Account (Extract)
.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
Determine the closing stock

Give:
1. Ascertainment of the particulars of the proposed company
II. Preparation of the incorporation documents
III. Filling of the documents
IV. Registration of the company
From the information above, the stages involved in the formation of a company are

The debit ratio is approximately

Which of the following is true of Uju Nig.Ltd?

Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the period was N200
What was department Q's gross profit?