Use the following information to answer this question
The following are the final accounts of a trading organisation Wazobi ventures, for the year ended 30th June, 19x8
| ₦ | ₦ | |
| Sales less: cost of goods sold |
233,000 170,000 |
|
| 63,000 | ||
| less: Overhead Expenses Admin expenses Selling expenses Other overhead expenses |
16,800 15,000 6,200 |
|
| Net profit | 25,000 |
Calculate the net profit on percentage of expenses.
Mr Ojo gives you the following information on 31st July 2017
Opening Stock 7,000
Closing Stock 12,000
Purchases 60,000
Expenses 4,500
Uniform margin of 33 \(\frac{1}{3}\) %
You are required to calculate the sales
Use the following to answer this question.
Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 at ₦1 each. At the of the first call, all shareholders paid in full, except for two shareholder who owes ₦20,000.
The company's paid-up capital is
The Unissued capital of the company is
Given:
Ordinary share dividend ₦100,000, General reserve ₦4,100, Net profit b/d ₦27,370, corporation tax ₦2,500, Profit and loss ₦28,200, Interim ordinary dividend ₦4,050, Goodwill 20,50 provide for preference Dividend ₦2100 and Final ordinary Dividend of 5% and also write off Goodwill at ₦1500.
The retained profit in the Appropriation account is
