JAMB Accounting Past Questions & Answers - Page 197

When goodwill is not retained in the business, the entries in the new partners' book will be to debit?

Departmentalization of accounts is useful because it shows the?

Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?

The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.

Interest on the drawings of partners is treated in the?

Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?

The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.

The factory overhead is?

Stock 1/1/2002..........................N40,000
Goods received from head office.................N800,000
Goods returned to head office...................N34,000
Sales...........................................N91,6000
Stock 31/12/2000................................N72,000

From the data above determine the cost of goods credited to the head office trading account.