Work-in-progress 1/1........................N1,000
...
Work-in-progress 1/1........................N1,000
Work-in-progress 31/12......................N2,000
Production cost of goods manufactured.......N20,000
Sales.......................................N50,000
Stock of finished goods 1/1.................N4,000
Stock of finished goods 31/12...............N5,000
Selling and distribution expenses...........N2,000
Administrative expenses.....................N1,000
What is the net profit?
N46,000
N45,000
N28,000
N27,000
Correct answer is C
Trading profit and Loss Account
|
opening stock 4,000 Gross profit 31,000 |
Sales 50,000 G.profit b/d 31000 |
Issue of prospectus is an invitation to members of the public to ...
Total production cost- #360,000 Factory overhead cost- #56,000 Selling price per unit- #120 Produ...
Which of the these entries is wrong PURCHASES ACCOUNT \(\begin{array}{c|c} & N & &...
Which of the following is debited to partner's current account? ...
Which of the following explains the short term solvency of a company? ...
The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of ...
An example of a credit entry in a profit and loss account is ...