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Use the information below to answer the question .     Total P Q  ...

Accounts - Principles of Accounts
JAMB 2018

Use the information below to answer the question .

 

  Total P Q   Total P Q
   
Stock 3,000 2,000 1,000 Sales 10,000 6,000 4,000
Purchase 4,000 2,500 1,500 Closing Stock   2,000 1,500    500

 

Goods worth #300 was transferred from department Q to P. Similarly, P’s total expenses for the period was #200.

  Department P’s net profit was

  • A. #2,500
  • B. #2,800
  • C. #3,000
  • D. #5,200
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Correct Answer: Option A
Explanation
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