JAMB Accounting Past Questions & Answers - Page 200

A private company is different from a public company because

Turnover........................N120,000 Net profit before tax.........N40,000 Net profit b/f.....................N68,000 Proposed dividends: Ordinary shares....................N8,000 Preference shares................N6,000 Corporate tax is 30%........N10,000

What is the tax charged to profit and loss account?

Accrual accounting differs from cash accounting because it recognizes?

Turnover.........................N120,000
Net profit before tax.........N40,000
Net profit b/f.....................N68,000
Proposed dividends:
Ordinary shares..................N8,000
Preference shares..............N6,000
Corporate tax is 30%........N10,000

The undistributed profit carried forward is?

Gross earnings................N950,000
Current liabilities............N100,000
Operating expenses........N350,000
10% debentures..............N400,000
Shareholder's fund.......N1,300,000
Corporate tax is 30%

From the data above calculate the returns on equity?