Use the information to answer questions
......................... Departments
........................... P Q R
Sales value............... N23,400
Selling expenses.......... 1,100 N1,400 N1,280
Administrative expenses...N1,400 N1,000 N1,020
Cost of sales............. N6,900.... N6,700 N5,500
Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to N1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.
Determine the total expenses of department P?
One of the purposes of maintaining the account of a branch at the head office is to?
Sule and Ahmad are in partnership sharing profits and losses equally. If Khadija is admitted as new partner to take \(\frac{1}{5}\) as her share, what is the new profit or loss sharing ratio?
Given:
Net profit b/d.....................N10,000
Interest on capital:...M...........N2, 000
.......................K...........N1, 000
Partners' on salary....K...........N800
Interest on drawings...M...........N500
Profit sharing ratio M and K 3:2
Determine M's share of profit?
