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Calculate the value of credit sales.
N484,000
N448,000
N584,000
N558,000
Correct answer is B
160/100 x 280,000
1.6 x 280,000 = 448,000
credit sales = 448,000
Credit sales is given at 160% of cash received.
What is the balance c/d? debit 64300
N333,000
N234,000
N343,000
N243,000
Correct answer is D
Credit sales = 160% x 280,000 (cash receivable)
160/100 x 280,000
1.6 x 280,000 = 448,000
credit sales = 448,000
Bal c/d = debit side - credit side of the account. Hence we have;
Debit side = 87,000 + 488,000 + 58,000 + 50,000 = 643,000
credit side = 40,000 + 50,000 + 280,000 + 30,000 = 400,000
643,000 - 400,000 = 243,000
Bal c/d = 243,000
How much selling and distribution expenses is apportioned to department M?
N800
N600
N400
N1800
Correct answer is A
Department difference M has a turnover of 89,000. That is 29,000 higher than department L and 49,000 higher than department K, This means department M has the highest selling and distribution cost because they sold the most. Hence the 1800 would be divided amongst the three departments in the ratio of their turnover
Department K = 400
L = 600
M = 800
total = 1800
How much rent is apportioned to department K?
N1200
N1800
N2000
N750
Correct answer is A
Since department K has the biggest shop space, its only fair that it pays the bigger chunk of rent. Hence it would be shared amongst the three department as;
Department k = 1200
L = 800
M = 1000
Total = 3000
N1,710
N1,760
N2,000
N2,240
Correct answer is D
No explanation has been provided for this answer.
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