Accounts - Principles of Accounts Past Questions and Answers

The estimated profit or loss for a period is calculated by

The loss made by a non profit making organization is called

Changes in the profit sharing ratio may occur as a result of

I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase

Larry Limited has 4,000,000 ordinary shares of 50k each and 150,000 5% prefrence shares of ₦1 each fully paid.

	₦
Net profit for the year	90,000
Interim dividends paid:
Ordinary shares	25,000
Profit and loss appropriation b/f	10,000
Goodwill written off	1,000

The amount of preference shares dividends payable at the end of the year is ____________