\(\begin{array}{c|c} & \text{Dept A} & \text{Dept...
\(\begin{array}{c|c} & \text{Dept A} & \text{Dept B} \\ \hline & N & \\ \hline \text{Sales} & 250 000 & 150,000 \\ \hline \text{Purchases} & 500,000 & 250 000 \\ \hline \text{Discount received} & 24 000 & \\ \hline \text{Discount allowed} & 15 000 & & \end{array}\) Determine the discount allowed by Department A
₦5,000
₦9,375
₦5,625
₦8,000
Correct answer is B
To determine the discount allowed by Department B, the percentage of sales by Department B need to be calculated
Dep A 250,000
Dep B \(\frac{150,000}{400,000}\)
% of Dep A = \(\frac{250,000}{400000}\) X 100
= 62.5%
∴ Discount allowed in Dep A = \(\frac{62.5}{100}\) x 250,000
= ₦ 9,375
= ₦ 9,375
Sales and purchases ledger are used in a business to keep records of? ...
How much did Olu sell goods bought at N1,000 if he sells at a margin of 20% on selling price? ...
In a period of declining price, which of the following methods would result in higher profit? ...
A trial balance is a proof of ...
.........................31 Dec. 05........31 Dec. 06 Total fixed assets.........N7 800.............
The accounting equation is ...
Use the following to answer the given question Creditors Control Account: \(\begin{array}{c|c}...