Accounting (S.S.3)
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1 / 10
Bird and Egg Ventures decides to dispose of one of its motor vehicles which had originally cost ₦900,000. The asset was sold after 6 years for ₦140,000. The partners had estimated a useful life of 8 years for the assets and depreciation is on a straight-line basis. What is the total depreciation (accumulated depreciation) at the end of the fourth year?
2 / 10
_____ is appointed to handle the properties of a deceased person
3 / 10
Carriage inwards is shown on the _______
4 / 10
All costs arising at the completion of the contract is ______ to the contract
5 / 10
When the receipt exceeds payment in the receipts and payment account, which of the following is an appropriate treatment for it?
6 / 10
Sales was D12,500, total expenses was D2,500 and net profit is 10% of sales. What is the gross profit?
7 / 10
A machine costs ₦12,000 and has a useful life of 4 years, with an expected disposal value of ₦400. Using the straight-line method, what is the annual depreciation?
8 / 10
What is the amount of the new provision for bad debts if Lagbaja is the debtor?
1/1/06 Debtors D2,6001/1/06 Provision for bad debts D0031/12/06 Bad debt D0031/12/08 Sold goods to Lagbaja on credit 5% o debtors
9 / 10
The straight-line depreciation is:
10 / 10
Which of the following causes depreciation?
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