I. Space occupied by each department
II. Average value of stock held by each department
III. Department turnover
IV. Number of articular sold by each department
From the information above, the two most logical bases for apportioning expenses that are common to departments are
The floor space occupied by manufacturing and administration departments in a company is 200 sqm and 300 sqm respectively. ₦20 000 rent incurred is shared using floor space occupied. How much is the rent chargeable to manufacturing?
Ascertainment of particulars of the proposed company
Preparation of the incorporation documents
Filling of the documents
Registration of the company
From the information above, the stages involved in the formation of a company are
A company has departments X, Y and Z. Department X occupies a space twice that of Y while Z occupies half the space of Y. If the company pays ₦70,000 on rent, what is the amount of rent that should be allocated to Y?
I. profit and losses will be shared unequally. II. Interest is not allowed on capital. III. Salaries are not allowed. IV> Interest is charged on drawings. From the above, which of the following would apply where there is no agreement during partnership formation?
Goods worth ₦50,000 were sent at different times from head office to the branch during the year. By the end of the period, only ₦40,000 worth of goods arrived at the branch. Which of the following is correct about the treatment of this transaction?
Branch should debit goods received from head office with ₦50,000
Head office should debit goods sent to branch amount with ₦10,000
Head office should debit goods sent to branch amount with ₦50,000
Branch should debit goods received from head office with ₦10,000
Osei and Yabo were in partnership sharing profits and losses in the ratio 3:2. On admitting, Takwa, the profit and loss sharing ratio was changed to 1:1:1. Suppose Takwa paid ₦30,000 for goodwill, this amount would be
Head office sends good to its branch at cost plus mark-up of 25%. A debit of 340000 to the branch stock account in the head office books will indicate that the head office has sent goods with a profit of
A company incurred ₦21000 in running its four departments, namely J, K, L and M with a corresponding number of employees as 1500, 2000, 3000 and 500 respectively. What is the share of department K?