Retained profits is an example of
Revenue reserve
Capital reserves
General reserves
Loan capital
Correct answer is A
Retained profit is part of the part of the profits of an organization not distributed as dividends but ploughed back into the business for expansion.
₦55,570
₦36,320
₦50,000
₦30,000
Correct answer is B
Ordinary share dividend = 5% × 10,000 = 5000
Retained profit = (27,370 + 28,000 - 4100 + 1500 - 4050 + 5000 + 2100 + 2500)
⇒ 55,570 - 19,250 = ₦36,320
Use the following to answer this question.
₦310,000
₦200,000
₦210,000
₦100,000
Correct answer is D
Unissuer capital is the total amount which has not been issued out on the authorized, nominal or registered capital.
Therefore, unissued capital = Authorized
capital - issued capital which is :
200,000 - 100,000 = ₦100,000
Use the following to answer this question.
₦70,000
₦80,000
₦220,000
₦120,000
Correct answer is B
Paid up capital is the total amount paid up or credited as paid up, on the issued share capital.
From the question above, the issued share capital is ₦100,000 and two of the shareholder owes ₦20,000. Therefore, the paid up is 100,000 - 20,000 = ₦80,000.
Use the following information to answer this question
| ₦ | ₦ | |
| Sales less: cost of goods sold |
233,000 170,000 |
|
| 63,000 | ||
| less: Overhead Expenses Admin expenses Selling expenses Other overhead expenses |
16,800 15,000 6,200 |
|
| Net profit | 25,000 |
Calculate the net profit on percentage of expenses.
60%
25%
13%
65.7%
Correct answer is D
No explanation has been provided for this answer.