6000
1000
1500
2500
Correct answer is C
No explanation has been provided for this answer.
Estimate
Depreciation
Asset
Useful Life
Correct answer is B
Depreciation is the reduction in the economic service potentials of an asset as a result of wears, usuage, tears and passage of time.
Stock of finished goods: Jan 1st Dec 31st Stock of Raw materials: Jan 1st Dec 31st Purchase of Raw Materials Manufacturing Wages Depreciation: Factory equipment Direct expenses Factory Fuel Carriage inwards on Raw Materials |
₦ 50,640 71,380 32,160 29,640 145,000 52,000 16,500 12,500 7,000 7,000 |
220,480
213,480
200,480
190,000
Correct answer is A
Cost of Raw material consumed Manufacturing Wages Direct expenses |
₦ 152,600 52,860 12,500 |
| 220,480 |
| Stock of finished goods: Jan 1st Dec 31st Stock of Raw materials: Jan 1st Dec 31st Purchase of Raw Materials Manufacturing Wages Depreciation: Factory equipment Direct expenses Factory Fuel Carriage inwards on Raw Materials |
₦ 50,640 71,380 32,160 29,640 145,000 52,000 16,500 12,500 7,000 7,000 |
Cost of raw materials consumed is
₦53,000
₦150,000
₦152,120
₦148,120
Correct answer is C
| ₦ | ₦ | |
| Opening stock of raw materials Purchase of Raw material Carriage Inwards |
145,600 7000 |
32,160 |
less closing stock |
184,760 29,640 |
|
| Cost of Raw materials consumed | 155,120 |
I only
II and III
I and III only
IV only
Correct answer is D
Provision for bad debts and trade discount allowed will not appear in the account.