Jamb Accounting Past Questions For Year 2014
Question 46
The formula for calculating depreciation using straight line method is
- A. \( \frac{\text{Scrape Value} + \text{Sales}}{Useful life} \)
- B. \( \frac{\text{Cost } - \text{Scrape Value}}{Useful life} \)
- C. \( \frac{\text{Sales } - \text{Scrape Value}}{Useful life} \)
- D. \( \frac{\text{Purchases } + \text{Sales }}{Useful life} \)
Question 47
What is the balance carried down?
- A. N11,680
- B. N11,930
- C. N12,330
- D. N13,430
Question 48
What is the total income for the period?
- A. N13,890
- B. N13,500
- C. N10,500
- D. N9,500
Question 49
Determine the closing stock.
- A. N30,000
- B. N40,000
- C. N50,000
- D. N60,000
