Posts

Showing posts from July, 2014

ACCOUNTS THEORY ANSWERS

FINACIAL ACCOUNTING THEORY ANSWERS

THEORY PART
8 )
Adjusted cash book :
tabulate
credit side:
bal(12680
credit transfer (1040 ) 13700

Debit side:
Bank(800 )
BAl (12920 )
Bank reconcilation Statement :
Balance as per adjustment cash
book 12900
add unpresented cheque :
olades o (2120)
olajide (840 )
2960
15880 less uncredited cheque
(obiocha) 2320
bal as per bank statement (2320 )
bal as per bank statement

(5 )
opening stock (40000)
add purchase(50000 ) 90000
less closing stock (60000)
g. p(30 , 000 )
60000
less exps(30000 )
Net profit (60000)

(a )cost of goods sold = N30 , 000

(b)net profit (N 60000)

(c )current asstes : current liability
20 , 000 : 10 , 000
2 : 1

(d) workinbg capital= current
assets less current liabilities
=20000 – 10000
=N 10000

(e )
rate of turnover = cost of goods
sold /average stock
av. stock = (opening +
closing )stock )/ 2
=(400000 +60000 )/ 2 = 100000/
2
=50000
=30000 / 50000
=0 .6 =1 approx

(f) G. p/ sales * 100
=600000 / 90000 * 100
=66 . 6 %
=67 approx
– – – – – – – – – – – – – – – – – – – –
– – – – – – – – – …

Examgurus android app

Image
EXAMGURUS ANDROID APPS EXAMGURUS APP VERSION 1.0 :down: EXAMGURUS APP VERSION 3.1 :down: EXAMGURUS APP VERSION 5.1 :down: