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

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

Explanation

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