Accounts - Principles of Accounts Past Questions and Answers

Stock 1/1/2002..................................N40 000
Goods received from head office.................N800 000
Goods returned to head office...................N34 000
Sales...........................................N916000
Stock 31/12/2000................................N72 000
From the data above determine the cost of goods credited to the head office trading account.

Use the information below to answer question .
Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?
The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.
The factory overhead is?

Use the information below to answer question .
Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?
The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.
Interest on the drawings of partners is treated in the?

Departmentalization of accounts is useful because it shows the?

When goodwill is not retained in the business, the entries in the new partners' book will be to debit?