If you are preparing for an accounting aptitude test or even a job interview, these accounting questions and answers will help you master the principles of accounting. This test covers accounting past questions from WAEC, JAMB, Post UTME exams and many more.
When Your Silence Is Loud..& Your Eyes Speaking Volumes..
Calculate the value of credit sales.
N484,000
N448,000
N584,000
N558,000
Correct answer is B
160/100 x 280,000
1.6 x 280,000 = 448,000
credit sales = 448,000
Credit sales is given at 160% of cash received.
What is the balance c/d? debit 64300
N333,000
N234,000
N343,000
N243,000
Correct answer is D
Credit sales = 160% x 280,000 (cash receivable)
160/100 x 280,000
1.6 x 280,000 = 448,000
credit sales = 448,000
Bal c/d = debit side - credit side of the account. Hence we have;
Debit side = 87,000 + 488,000 + 58,000 + 50,000 = 643,000
credit side = 40,000 + 50,000 + 280,000 + 30,000 = 400,000
643,000 - 400,000 = 243,000
Bal c/d = 243,000
How much selling and distribution expenses is apportioned to department M?
N800
N600
N400
N1800
Correct answer is A
Department difference M has a turnover of 89,000. That is 29,000 higher than department L and 49,000 higher than department K, This means department M has the highest selling and distribution cost because they sold the most. Hence the 1800 would be divided amongst the three departments in the ratio of their turnover
Department K = 400
L = 600
M = 800
total = 1800
N14,100
N14,000
N13,500
N12,900
N9,300
Correct answer is D
No explanation has been provided for this answer.
N10,000
N9,500
N5,800
N5,300
N5,200
Correct answer is C
No explanation has been provided for this answer.