Where partners maintain a fluctuating capital account, partners' share of profit is credited to
Capital account
Profit and loss appropriate account
Current account
Profit and loss account
Correct answer is A
No explanation has been provided for this answer.
₦245,000
₦215,000
₦295,000
₦265,000
Correct answer is A
No explanation has been provided for this answer.
Carriage inwards
Carriage outwards
Discount received
Returns outwards
Correct answer is B
No explanation has been provided for this answer.
The excess of income over expenditure is usually transferred to the
Current assets in the balance sheet
Profit and loss account
Accumulated fund
Current liabilities in the balance sheet
Correct answer is C
No explanation has been provided for this answer.
Depreciation of plant and machinery Factory rent Indirect wages General indirect expenses Lubricants Carriage inwards Factory power Bank charges Carriage outwards |
₦ 1,600 650 695 726 1,235 829 350 612 2,900 |
Determine the total factory overhead cost
₦4,485
₦6,085
₦6,556
₦5,256
Correct answer is D
No explanation has been provided for this answer.