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Accounts - Principles of Accounts Past Questions

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2816

Use the following information to answer the question below

Sales ledger balances 01/06/12------ 9,000
30/06/12------------------------------------30,000
Total for the month: Cash sales----- 10,000
Returns inwards --------------------------3,000
Cheque dishonoured-------------------- 4,000

The credit sales for the month is?

  • A. 36,000
  • B. 31,000
  • C. 20,000
  • D. 30,000
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2817

The excess of the market value of goods produced over the cost of production is 

  • A. profit on manufacturing
  • B. net profit
  • C. goodwill
  • D. gross profit
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2818

Factory wages from part of 

  • A. administration cost
  • B. selling and distribution cost
  • C. overhead cost
  • D. prime cost
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2819

The production cost of a manufacturing firm is made up of 

  • A. indirect materials
  • B. factory overheads and prime cost
  • C. direct materials and wages
  • D. factory overheads and directs materials
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2820

In a manufacturing enterprise depreciation of plant is treated in the

  • A. trading account
  • B. profit be and loss account
  • C. manufacturing account
  • D. appropriation account
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