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Accounts - Principles of Accounts Past Questions

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Myschool's prices for products & services are going up again in February - Buy what you need now
3306
  #

Stock 1/1/09

2200

Purchases

18000

Sales 

27000

Salaries

1500

Rejection in doubtful debts

500

Office expenses

1100

Other expenses

1300

Stock 31/12/09

1000

The total expenses is

  • A. #3,900
  • B. #3,800
  • C. #4,400
  • D. #3,400
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3307
  # #

Debtors 

2000 6000

Stock

1000 1300

Discount allowed

500  

Cash received from debtors 

10000  

Sales for the year is

 

  • A. #14,000
  • B. #10,500
  • C. #14,500
  • D. #16,500
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3308

The following balances was exgtracted from the books of Oluwalambe Ltd, manufacturer, on 31st December 2007

Stock of raw materials 1 - 1 - 2007  8000

Purchase of raw materials

450000

Stock of raw materials 31 - 12 - 2007 

95000

Direct wages

65000

Indirect wages

28000

Depreciation on plants

32000

Factory rent

3500

Work in progress 1- 1- 2007 

32500

 Work in progress 31 - 12- 2007

37500

The prime cost is

  • A. #500,000
  • B. #527,500
  • C. #530,000
  • D. #463,000
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Myschool's prices for products & services are going up again in February - Buy what you need now
3309

The following balances was exgtracted from the books of Oluwalambe Ltd, manufacturer, on 31st December 2007

Stock of raw materials 1 - 1 - 2007  8000

Purchase of raw materials

450000

Stock of raw materials 31 - 12 - 2007 

95000

Direct wages

65000

Indirect wages

28000

Depreciation on plants

32000

Factory rent

3500

Work in progress 1- 1- 2007 

32500

 Work in progress 31 - 12- 2007

37500

Factory overhead cost is

  • A. #63,500
  • B. #68,500
  • C. #58,500
  • D. #12,800
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3310

The following balances was extracted from the books of Oluwalambe Ltd, manufacturer, on 31st December 2007

Stock of raw materials 1 - 1 - 2007  8000

Purchase of raw materials

450000

Stock of raw materials 31 - 12 - 2007 

95000

Direct wages

65000

Indirect wages

28000

Depreciation on plants

32000

Factory rent

3500

Work in progress 1- 1- 2007 

32500

 Work in progress 31 - 12- 2007

37500

Cost of goods produced is

  • A. #520,000
  • B. #530,000
  • C. #558,500
  • D. #559,000
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Myschool's prices for products & services are going up again in February - Buy what you need now
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