JAMB Accounting Past Questions & Answers - Page 277

A total of 400,000 shares of N1 each are to be issued by Sariki company Ltd at a price of N1.20 per share. Application were received for 600,000 shares out of which 100,000 were dishonored. If the available share were distributed pro-rata. 
What refund will be due a subscriber who applied for 5,000 shares?

Which of the following ratios gives an idea of the liquidity of a firm?

The conversion of a partners business into a limited liability company affords the

Halidu and Hamed are business partners with N30,000 and N20,000 capital respectively. At the end of the financial year, a profit of N12,000, which included Halidu's salary of N3,000 was made.
Hamed's share of the profit should be

Halidu and Hamed are business partners with N30,000 and N20,000 capital respectively. At the end of the financial year, a profit of N12,000, which included Halidu's salary of N3,000 was made.
Halidu's share of the profit is