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Course 21164
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Opening inventory of bar stock was N$6,000, purchases were N$30,000, and closing inventory was N$4,000. Cost of sales equals:
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X and Y are in partnership sharing profits and losses in the ratio 2: 1. Z will be admitted with the following new arrangements. Profit and loss sharing ratio will be 2: 1:2 respectively. Goodwill is valued at N$90 000. Z will pay the partners for his share of the goodwill. How much will Z pay X?
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A club received N$90,000 membership fees during the year. Fees received in advance at the beginning of the year were N$4,000 and at the end of the year N$6,000. No fees were outstanding. Membership income for the year is:
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A Trading Account is prepared by a non-profit organisation when it:
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A company as a tax entity will:
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Which items would not be in the appropriation account for a partnership? 1 interest on capital 2 interest on a partner’s loan 3 share of profit on revaluation of assets 4 share of residual profit
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A premium on the redemption of redeemable preference shares as an option of the shareholders, may not be provided for from:
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What is the minimum number of members to form a public company?
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L, M and N are in partnership sharing profits and losses equally. L retired when the credit balances on her capital and current accounts were N$100000 and $40 000.artnership assets were revalued upwards by N$60 000. L took half of the amount due to her on retirement. The other half was left as a loan to the business. How much was L paid from the partnership bank account on her retirement?
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Membership fees outstanding at the beginning of the year were N$8,000 and at the end of the year N$12,000. Cash membership fees received were N$100,000. Membership income for the year equals:
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