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Use the information below to answer this question. .............Total......... Dept.P.............Dept.Q ...............N...............N.................N Sales.........10000............6000..............4000 Purchases......4000............1000..............3000 Discount received.1000..........?.....................

Accounts - Principles of Accounts
JAMB 2002

Use the information below to answer this question.

.............Total......... Dept.P.............Dept.Q
...............N...............N.................N
Sales.........10000............6000..............4000
Purchases......4000............1000..............3000
Discount received.1000..........?..................
Discounts allowed..2000...........................?.
Discount (allowed and received) are apportioned to the two departments on the basis of departmental sales and purchases.

Department P's share of discount received is
  • A. N750
  • B. N1000
  • C. N250
  • D. N500
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Correct Answer: Option C
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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