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Use the information below to answer question . Prime cost..................N12 100 lighting....................N10 000 Heating.....................N15 000...

Accounts - Principles of Accounts
JAMB 2006
Use the information below to answer question .

Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?

The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.


Interest on the drawings of partners is treated in the?
  • A. profit and loss appropriation account
  • B. goodwill account
  • C. profit and loss account
  • D. trading account
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Correct Answer: Option A
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