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Accounts - Principles of Accounts 2014 JAMB Past Questions

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46
The formula for calculating depreciation using straight line method is
  • A. \( \frac{\text{Scrape Value} + \text{Sales}}{Useful life} \)
  • B. \( \frac{\text{Cost } - \text{Scrape Value}}{Useful life} \)
  • C. \( \frac{\text{Sales } - \text{Scrape Value}}{Useful life} \)
  • D. \( \frac{\text{Purchases } + \text{Sales }}{Useful life} \)
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47
Determine the closing stock.
  • A. N30,000
  • B. N40,000
  • C. N50,000
  • D. N60,000
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48
What is the total income for the period?
  • A. N13,890
  • B. N13,500
  • C. N10,500
  • D. N9,500
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49
What is the balance carried down?
  • A. N11,680
  • B. N11,930
  • C. N12,330
  • D. N13,430
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