JAMB Accounting Past Questions & Answers - Page 94

466.

WHAT IS THE VALUE OF RAW MATERIALS ISSUED ON MAY 17TH BASED ON THE LIFO METHOD?

A.

N60

B.

N61

C.

N62

D.

N64

Correct answer is D

No explanation has been provided for this answer.

467.

The depreciation to be charged to department T is ?

A.

N300

B.

N400

C.

N500

D.

N600

Correct answer is B

No explanation has been provided for this answer.

468.

What is the net profit made by department S?

A.

N3,600

B.

N,3000

C.

N2,400

D.

N2,000

Correct answer is C

No explanation has been provided for this answer.

469.

The value of the owner's equity is

A.

N400,000

B.

N900,000

C.

N957,000

D.

N1,357,000

Correct answer is C

No explanation has been provided for this answer.

470.

What is the value of the authorized share capital?

A.

N500,000

B.

N600,000

C.

N750,000

D.

N1,200,000

Correct answer is C

No explanation has been provided for this answer.