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  4. JAMB 2013
  5. Sales - #232,000 Op...

Sales - #232,000 Opening stock - # 28,000 Purchases - #128,000 Carriage inwards - #...

Accounts - Principles of Accounts
JAMB 2013

Sales - #232,000
Opening stock - # 28,000
Purchases - #128,000
Carriage inwards - # 4,000
Carriage outwards - # 6,000
Closing stock - # 10,000
Discount received - # 18,000
Expenses - # 20,000

Calculate the expenses debited to the profit and loss account

  • A. #17,000
  • B. #23,000
  • C. #26,000
  • D. #30,000
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Correct Answer: Option C
Explanation

Expenses debited to the profit and loss account would be;
Expenses + carriage outwards
20,000 + 6000 = 26000

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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