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
Correct Answer: Option A
Explanation
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