JAMB Accounting Past Questions & Answers - Page 10

Given:
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases

The item on the credit side of purchase ledger control account includes

The document which is legal charter of a company that defines the limits of a company's field of operation is known as

Larry Limited has 4,000,000 ordinary shares of 50k each and 150,000 5% prefrence shares of ₦1 each fully paid.

	₦
Net profit for the year	90,000
Interim dividends paid:
Ordinary shares	25,000
Profit and loss appropriation b/f	10,000
Goodwill written off	1,000

At the end of the period, what is the balance of the profit and loss appropriation account?

Changes in the profit sharing ratio may occur as a result of
I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase

When goods are received from head office, head office will be credited while