Accounting Calculations – NBC Institute

FA – May 2014 – L1 – SA – Q15 – Partnership Account

Calculates a partner's share of profit based on given ratios.

Question

A, B, and C are in partnership sharing profits in the ratio of 5:4:2, respectively. In the year ended 31 March 2013, C’s share of profit was N180,000. What is A’s share of profit for the year?
A. N360,000
B. N400,000
C. N450,000
D. N550,000
E. N600,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Calculations, Partnership, Profit Sharing, Ratios
Level: Level 1

Topic: Partnership Accounts (Including Profit Sharing, Capital and Current Accounts)
Series: MAY 2014

FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records

Calculating Adamu's purchases for the period using available data.

Question

Adamu does not keep complete accounting records. However, you were able to extract the following information from the available records for the year ended 31 December 2012:

	₦
Cash purchases	234,000
Cash and cheque payments for goods supplied	1,671,000
Trade payables at 1 January 2012	58,200
Trade payables at 31 December 2012	43,200

What was Adamu’s purchases for the period?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Calculations, Incomplete Records, Purchases
Level: Level 1

Topic: Accounting from Incomplete Records
Series: NOV 2013

FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements

Determining the dividend payable to a shareholder.

Question

A dividend of 10% on the nominal value of a company with 100,000 ordinary shares of 50k nominal value has been declared. How much will a shareholder receive as dividend if he has 10,000 shares?

A. N200
B. N400
C. N500
D. N1,000
E. N5,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Calculations, Dividends, Shareholder Payments
Level: Level 1

Topic: Elements of Financial Statements
Series: NOV 2013

FA – May 2014 – L1 – SA – Q15 – Partnership Account

Calculates a partner's share of profit based on given ratios.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Calculations, Partnership, Profit Sharing, Ratios
Level: Level 1

Topic: Partnership Accounts (Including Profit Sharing, Capital and Current Accounts)
Series: MAY 2014

FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records

Calculating Adamu's purchases for the period using available data.

Question

Adamu does not keep complete accounting records. However, you were able to extract the following information from the available records for the year ended 31 December 2012:

	₦
Cash purchases	234,000
Cash and cheque payments for goods supplied	1,671,000
Trade payables at 1 January 2012	58,200
Trade payables at 31 December 2012	43,200

What was Adamu’s purchases for the period?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Calculations, Incomplete Records, Purchases
Level: Level 1

Topic: Accounting from Incomplete Records
Series: NOV 2013

FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements

Determining the dividend payable to a shareholder.

Question

A dividend of 10% on the nominal value of a company with 100,000 ordinary shares of 50k nominal value has been declared. How much will a shareholder receive as dividend if he has 10,000 shares?

A. N200
B. N400
C. N500
D. N1,000
E. N5,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Calculations, Dividends, Shareholder Payments
Level: Level 1

Topic: Elements of Financial Statements
Series: NOV 2013

Question Tag: Accounting Calculations

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FA – May 2014 – L1 – SA – Q15 – Partnership Account

Calculates a partner's share of profit based on given ratios.

FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records

Calculating Adamu's purchases for the period using available data.

FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements

Determining the dividend payable to a shareholder.

FA – May 2014 – L1 – SA – Q15 – Partnership Account

Calculates a partner's share of profit based on given ratios.

FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records

Calculating Adamu's purchases for the period using available data.

FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements

Determining the dividend payable to a shareholder.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Accounting Calculations

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FA – May 2014 – L1 – SA – Q15 – Partnership Account

Calculates a partner's share of profit based on given ratios.

You're reporting an error for "FA – May 2014 – L1 – SA – Q15 – Partnership Account"

FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records

Calculating Adamu's purchases for the period using available data.

You're reporting an error for "FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records"

FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements

Determining the dividend payable to a shareholder.

You're reporting an error for "FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements"

FA – May 2014 – L1 – SA – Q15 – Partnership Account

Calculates a partner's share of profit based on given ratios.

You're reporting an error for "FA – May 2014 – L1 – SA – Q15 – Partnership Account"

FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records

Calculating Adamu's purchases for the period using available data.

You're reporting an error for "FA – Nov 2013 – L1 – SA – Q37 – Accounting from Incomplete Records"

FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements

Determining the dividend payable to a shareholder.

You're reporting an error for "FA – Nov 2013 – L1 – SA – Q17 – Elements of Financial Statements"

Our offerings

Contact Info

Customer

Get In Touch

admin