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3311

The following balances were extracted from the books of Adama Ltd on 31st August 2007

  #

Sales 

200000

 Drawings

10000

 Land and building

70000

Furniture

10000

Debtors 

50000

Creditors

35000

Capital 

85000

Bank

10000

General expenses

10000

Stock ( 31-08-2007) 

10000

Purchases 

140000

Stock (1-09- 2006) 

20000

Percentage of net profit to sale is 
 

 

  • A. 10%
  • B. 40%
  • C. 30%
  • D. 20%
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3312

The following balances were extracted from the books of Adama Ltd on 31st August 2007

  #

Sales 

200000

 Drawings

10000

 Land and building

70000

Furniture

10000

Debtors 

50000

Creditors

35000

Capital 

85000

Bank

10000

General expenses

10000

Stock ( 31-08-2007) 

10000

Purchases 

140000

Stock (1-09- 2006) 

20000

Total fixed assets is

  • A. #70,000
  • B. #150,000
  • C. #165,000
  • D. #80,000
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3313

The following balances were extracted from the books of Adama Ltd on 31st August 2007

  #

Sales 

200000

 Drawings

10000

 Land and building

70000

Furniture

10000

Debtors 

50000

Creditors

35000

Capital 

85000

Bank

10000

General expenses

10000

Stock ( 31-08-2007) 

10000

Purchases 

140000

Stock (1-09- 2006) 

20000

The gross profit is

  • A. #40,000
  • B. #50,000
  • C. #70,000
  • D. #60,000
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Myschool's prices for products & services are going up again in February - Buy what you need now
3314

The following balances were extracted from the books of Adama Ltd on 31st August 2007

  #

Sales 

200000

 Drawings

10000

 Land and building

70000

Furniture

10000

Debtors 

50000

Creditors

35000

Capital 

85000

Bank

10000

General expenses

10000

Stock ( 31-08-2007) 

10000

Purchases 

140000

Stock (1-09- 2006) 

20000

The current ratio is

  • A. 3:1
  • B. 2:1
  • C. 1:1
  • D. 1.2:1
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3315

The following balances were extracted from the books of Onuoha, a trader on 31st December 2005

Audit fee 12000
General expenses 30000
Purchases 70000
Commission paid 30000
Stock (1 - 01 - 2005) 10000
Stock ( 31 - 12  - 2005) 15000
Sales 120000

The gross profit is 

 

  • A. #35,000
  • B. #45,000
  • C. #55,000
  • D. #25,000
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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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