Tüm alıştırma soruları

Soru 361Soru →

The Sales Ledger Control Account of Bisi Enterprises showed a debit balance of ₦354,200 prior to reconciliation. An audit of the books revealed the following discrepancies:

1. A sales return of ₦14,600 was recorded in the Sales Returns Day Book as ₦16,400 and posted as such to the Sales Ledger Control Account.
2. Credit sales of ₦28,500 correctly recorded in the Sales Day Book were posted to the customer's personal account as ₦52,800.
3. Discount allowed of ₦6,400 correctly entered in the Cash Book was omitted from the Sales Ledger Control Account.
4. A dishonoured cheque of ₦12,200 received from a customer was correctly recorded in the Cash Book but posted to the credit side of the Sales Ledger Control Account.
5. A set-off (contra entry) of ₦8,500 between the sales ledger and purchases ledger was correctly posted in the Purchases Ledger Control Account but omitted entirely from the Sales Ledger Control Account.

Calculate the adjusted debit balance of the Sales Ledger Control Account.

Cevabı ve açıklamayı göster

Cevap: 365500

Cevap

The adjusted debit balance of the Sales Ledger Control Account is ₦365,500.

To obtain the adjusted debit balance of ₦365,500:
- Unadjusted Balance: ₦354,200 (Debit)
- Error 1 (Sales Return over-statement): Debit ₦1,800 (₦16,400 - ₦14,600)
- Error 2 (Personal Account error): ₦0 adjustment to Control Account
- Error 3 (Discount Allowed omitted): Credit ₦6,400
- Error 4 (Dishonoured Cheque on wrong side): Debit ₦24,400 (2 × ₦12,200)
- Error 5 (Contra Entry omitted): Credit ₦8,500

Net calculation: ₦354,200 + ₦1,800 - ₦6,400 + ₦24,400 - ₦8,500 = ₦365,500.

Adım Adım Çözüm

1

Determine the effect of the sales return recording error.

Sales returns reduce debtors and belong on the credit side of the Sales Ledger Control Account. Since ₦16,400 was credited instead of ₦14,600, the control account was over-credited by ₦1,800. Correcting this requires a debit adjustment of ₦1,800.

Debiting the account by the difference of ₦1,800 reduces the excess credit entry.

2

Evaluate the customer personal account posting error.

No adjustment to the Sales Ledger Control Account (₦0).

Errors made in posting to individual customer accounts alter the total of the list of debtors, but do not affect the control account because control accounts are posted from totals of books of prime entry.

3

Account for omitted discount allowed.

Credit the Sales Ledger Control Account with ₦6,400.

Discount allowed reduces total trade receivables and must be posted on the credit side of the Sales Ledger Control Account.

4

Correct the dishonoured cheque posted to the wrong side of the control account.

Debit the Sales Ledger Control Account with ₦24,400.

Dishonoured cheques reinstate debt and should be debited to the control account. Posting ₦12,200 to the credit side created a ₦12,200 deficit; hence a debit entry of twice the amount (2 × ₦12,200 = ₦24,400) is required to reverse the credit and apply the debit.

5

Post the omitted set-off (contra entry).

Credit the Sales Ledger Control Account with ₦8,500.

Contra entries reduce both debtors and creditors, requiring a credit entry in the Sales Ledger Control Account.

6

Calculate the final corrected balance.

₦354,200 + ₦1,800 - ₦6,400 + ₦24,400 - ₦8,500 = ₦365,500.

Summing the initial balance and all net debit and credit adjustments yields the true corrected balance.

Anahtar Kavram

Sales Ledger Control Account Error Corrections and Ledger Reconciliation

Soru 362Soru →

During the financial year, a business received $₦75,000$ cash for rent income. At the end of the financial year, $₦15,000$ of this amount represented rent received in advance for the following year. What is the total amount of rent income (in $₦$ ) to be credited to the Profit and Loss Account for the year?

Cevabı ve açıklamayı göster

Cevap: 60000

Cevap

The total amount of rent income to be credited to the Profit and Loss Account for the year is

₦60,000

.

To calculate the rent income earned during the financial period, closing prepaid rent income is subtracted from the total cash received (

₦75,000 - ₦15,000 = ₦60,000

).

Adım Adım Çözüm

1

Identify cash received during the year

Cash received =

₦75,000

This represents total cash inflows recorded for rent during the financial period.

2

Deduct closing prepaid income

Income for P&L =

₦75,000 - ₦15,000 = ₦60,000

According to the accrual concept, income received in advance relates to the subsequent accounting period and must be deducted from the current year's Profit and Loss Account.

Anahtar Kavram

Adjustment for Prepaid Income in Final Accounts

Soru 363Soru →

Ade, a sole trader, extracted the following account balances from his ledger at the end of the accounting period:

- Capital: $₦50,000$
- Sales: $₦80,000$
- Purchases: $₦45,000$
- Rent Expense: $₦5,000$
- Cash at Bank: $₦30,000$
- Machinery: $₦50,000$

What is the total of the Trial Balance extracted from these accounts?

Cevabı ve açıklamayı göster

Cevap: 130000

Cevap

The total of the trial balance extracted from the ledger accounts is

₦130,000

.

The total of the trial balance is obtained by adding up either all debit balances (

₦45,000 + ₦5,000 + ₦30,000 + ₦50,000 = ₦130,000

) or all credit balances (

₦50,000 + ₦80,000 = ₦130,000

). Since total debits equal total credits, the total is

₦130,000

.

Adım Adım Çözüm

1

Classify the ledger balances into Debit and Credit sides.

Debit balances: Purchases (

₦45,000

), Rent Expense (

₦5,000

), Cash at Bank (

₦30,000

), Machinery (

₦50,000

). Credit balances: Capital (

₦50,000

), Sales (

₦80,000

).

Assets and expenses have debit balances, while equity and revenue accounts have credit balances.

2

Sum either column to find the trial balance total.

Total Debit =

₦45,000 + ₦5,000 + ₦30,000 + ₦50,000 = ₦130,000

. (Total Credit =

₦50,000 + ₦80,000 = ₦130,000

).

Under double-entry bookkeeping, the total of all debit balances must equal the total of all credit balances.

Anahtar Kavram

Extraction and balancing of Trial Balance column totals

Soru 364Soru →

Kalu consigned 1,000 crates of soft drinks costing ₦2,000 per crate to an agent in Enugu. He paid carriage of ₦150,000 and insurance of ₦50,000. During transit, 100 crates were completely destroyed in an accident. What is the value of the abnormal loss in Naira (₦) to be credited to the Consignment Account?

Cevabı ve açıklamayı göster

Cevap: 220000

Cevap

The value of the abnormal loss to be credited to the Consignment Account is ₦220,000.

Abnormal loss is valued at cost plus its proportionate share of consignor expenses. Total outlay for 1,000 crates is ₦2,000,000 + ₦150,000 + ₦50,000 = ₦2,200,000, giving a cost per crate of ₦2,200. The 100 crates lost in transit are therefore valued at 100 × ₦2,200 = ₦220,000.

Adım Adım Çözüm

1

Calculate the total prime cost of the consigned goods

1,000 crates × ₦2,000 = ₦2,000,000

Determine the basic purchase price of all items dispatched.

2

Sum all direct expenses incurred by the consignor prior to transit loss

₦150,000 (carriage) + ₦50,000 (insurance) = ₦200,000; Total outlay = ₦2,200,000

Consignor expenses add to the capital cost of the goods before reaching the destination.

3

Determine the effective cost per unit including consignor expenses

₦2,200,000 / 1,000 crates = ₦2,200 per crate

Find the unit cost to properly allocate values to lost items.

4

Compute the total valuation of the abnormal loss

100 crates × ₦2,200 = ₦220,000

Abnormal loss must be valued at cost plus a proportionate share of non-recurring expenses incurred up to the point of loss.

Anahtar Kavram

Valuation of Abnormal Loss in Consignment Accounting

Soru 365Soru →

Zainab and Chidi are partners in a firm. For the year ended 31 December 2025, the firm reported a net profit of ₦450,000 before accounting for interest on Chidi's loan of ₦50,000 at 10% per annum.

According to their partnership agreement:
- Interest on capital: Zainab ₦20,000; Chidi ₦15,000
- Annual salary: Zainab ₦60,000
- Interest on drawings: Zainab ₦5,000; Chidi ₦4,000
- Profit-sharing ratio: 3:2

What is the net divisible profit to be shared between the partners?

Cevabı ve açıklamayı göster

Cevap: 359000

Cevap

The net divisible profit to be shared between the partners is ₦359,000.

The correct net divisible profit is ₦359,000. Interest on a partner's loan is a charge against profit and must be deducted to find the true net profit (₦450,000 - ₦5,000 = ₦445,000). Adding total interest on drawings (₦9,000) yields ₦454,000. Deducting interest on capital (₦35,000) and partner salary (₦60,000) leaves ₦359,000 as net divisible profit.

Adım Adım Çözüm

1

Calculate interest on partner's loan and adjust the Net Profit

Adjusted Net Profit = ₦445,000

Interest on a partner's loan (10% of ₦50,000 = ₦5,000) is a charge against profit (debited to Profit and Loss Account), not an appropriation.

2

Add Interest on Drawings to Adjusted Net Profit

Total available profit = ₦454,000

Interest on drawings (₦5,000 + ₦4,000 = ₦9,000) is an income to the partnership and increases divisible profit.

3

Subtract Appropriations (Interest on Capital and Partner Salary)

Net Divisible Profit = ₦359,000

Interest on capital (₦20,000 + ₦15,000 = ₦35,000) and partner salary (₦60,000) are appropriations of profit and reduce the total profit available for sharing.

Anahtar Kavram

Distinction between charges against profit (e.g., loan interest) and appropriations of profit (e.g., interest on capital, salaries, interest on drawings).

Soru 366Soru →

The following details were extracted from the accounting records of Binta Manufacturing Ltd. for the year ended 31 December 2025:

Item	Amount (₦)
Stock of raw materials (1 January 2025)	45,000
Stock of raw materials (31 December 2025)	38,000
Purchases of raw materials	180,000
Carriage inwards on raw materials	12,000
Return outwards of raw materials	7,000
Direct factory labor paid	95,000
Direct factory labor accrued at year-end	5,000
Royalties paid on production	15,000
Factory power and lighting	34,000
Depreciation of factory machinery	22,000
Work-in-progress (1 January 2025)	28,000
Work-in-progress (31 December 2025)	31,000

What is the total Cost of Production for the year?

Cevabı ve açıklamayı göster

Cevap: 360000

Cevap

The total Cost of Production for the year is ₦360,000.

The Cost of Production is correctly determined by summing Prime Cost (₦307,000) and Factory Overheads (₦56,000), giving a gross production cost of ₦363,000, and adjusting for work-in-progress by adding opening WIP (₦28,000) and deducting closing WIP (₦31,000) to arrive at ₦360,000.

Adım Adım Çözüm

1

Calculate Cost of Raw Materials Consumed

₦192,000

Raw materials consumed equals opening stock of raw materials plus net purchases and carriage inwards, less closing stock of raw materials:

45,000 + 180,000 + 12,000 - 7,000 - 38,000 = 192,000

.

2

Calculate Total Direct Labor Cost

₦100,000

Direct labor must include accrued wages incurred during the accounting period:

95,000 + 5,000 = 100,000

.

3

Determine Prime Cost

₦307,000

Prime Cost is the sum of direct raw materials consumed, direct labor, and direct expenses (royalties):

192,000 + 100,000 + 15,000 = 307,000

.

4

Calculate Total Factory Overheads

₦56,000

Factory Overheads include all indirect manufacturing costs (factory power and lighting + machinery depreciation):

34,000 + 22,000 = 56,000

.

5

Compute Total Manufacturing Operations Cost before Work-in-Progress Adjustments

₦363,000

Add Factory Overheads to Prime Cost:

307,000 + 56,000 = 363,000

.

6

Adjust for Opening and Closing Work-in-Progress to derive Cost of Production

₦360,000

Add opening work-in-progress and subtract closing work-in-progress from total manufacturing operations cost:

363,000 + 28,000 - 31,000 = 360,000

.

Anahtar Kavram

Manufacturing Account Preparation and Calculation of Cost of Production

Soru 367Soru →

Prior to reconciliation, the Purchases Ledger Control Account of Kalu Traders showed a credit balance of $₦248,500$ on 31 December 2025. Upon auditing the accounting records, the following errors were discovered:

1. A credit purchase invoice for $₦14,200$ was completely omitted from the Purchases Journal.
2. Returns outwards of $₦6,800$ were posted to the credit side of the Purchases Ledger Control Account instead of the debit side.
3. Discount received amounting to $₦3,500$ was recorded correctly in the cash book but omitted from the control account.
4. The total of the Purchases Day Book was overcast by $₦5,000$ .

What is the correct adjusted balance of the Purchases Ledger Control Account?

Cevabı ve açıklamayı göster

Cevap: 240600

Cevap

The adjusted balance of the Purchases Ledger Control Account is ₦240,600.

To calculate the adjusted credit balance of the Purchases Ledger Control Account, start with the unadjusted figure of

₦248,500

. Add

₦14,200

for omitted credit purchases. Subtract

₦13,600

to correct returns outwards wrongly credited (

2 \times ₦6,800

). Subtract

₦3,500

for omitted discount received and

₦5,000

for the overcast purchases day book. The resulting corrected credit balance is

₦240,600

.

Adım Adım Çözüm

1

Identify the unadjusted credit balance

Unadjusted credit balance = ₦248,500

This serves as the starting figure prior to adjustments.

2

Adjust for omitted purchase invoice

Credit Purchases Ledger Control Account by ₦14,200

Credit purchases increase creditors, so omitting the invoice requires a credit entry.

3

Correct returns outwards wrongly credited

Debit Purchases Ledger Control Account by ₦13,600

Posting returns outwards to the credit side requires debiting double the amount (₦6,800 to reverse wrong credit + ₦6,800 to post correct debit).

4

Adjust for omitted discount received and overcast day book total

Debit control account by ₦3,500 and ₦5,000 respectively

Discount received reduces total liability to creditors. Overcasting the day book resulted in an excessive credit entry that must be reduced with a debit.

5

Compute final adjusted credit balance

Adjusted balance = ₦240,600

₦248,500 + ₦14,200 - ₦13,600 - ₦3,500 - ₦5,000 = ₦240,600.

Anahtar Kavram

Purchases Ledger Control Account Error Correction

Soru 368Soru →

The following balances were extracted from the ledger of Babatunde, a sole trader, as at 31st December 2025:

Account Title	Amount (₦)
Motor Vehicles (at cost)	120,000
Accumulated Depreciation on Vehicles	30,000
Closing Inventory	45,000
Trade Debtors	50,000
Provision for Bad Debts	3,000
Cash at Bank	8,000
Prepaid Rent	6,000
Trade Creditors	32,000
Bank Overdraft	15,000
Accrued Electricity Bill	4,000
5-Year Bank Loan	60,000

What is the value of the Working Capital of the business in Naira as at 31st December 2025?

Cevabı ve açıklamayı göster

Cevap: 55000

Cevap

The Working Capital of the business as at 31st December 2025 is ₦55,000.

Working Capital is determined by subtracting Total Current Liabilities from Total Current Assets. Total Current Assets = ₦45,000 (Inventory) + (₦50,000 - ₦3,000) (Net Debtors) + ₦8,000 (Bank) + ₦6,000 (Prepaid Rent) = ₦106,000. Total Current Liabilities = ₦32,000 (Creditors) + ₦15,000 (Bank Overdraft) + ₦4,000 (Accrued Electricity) = ₦51,000. Working Capital = ₦106,000 - ₦51,000 = ₦55,000.

Adım Adım Çözüm

1

Calculate Total Current Assets

₦106,000

Current assets consist of short-term resources expected to be realized within one accounting period: Closing Inventory (₦45,000), Net Trade Debtors (₦50,000 less ₦3,000 provision = ₦47,000), Cash at Bank (₦8,000), and Prepaid Rent (₦6,000).

2

Calculate Total Current Liabilities

₦51,000

Current liabilities are short-term obligations due within one year: Trade Creditors (₦32,000), Bank Overdraft (₦15,000), and Accrued Electricity Bill (₦4,000). The 5-year bank loan is excluded as it is a long-term liability.

3

Deduct Total Current Liabilities from Total Current Assets

₦55,000

Working Capital equals Net Current Assets (Current Assets minus Current Liabilities): ₦106,000 - ₦51,000 = ₦55,000.

Anahtar Kavram

Working Capital and Balance Sheet Item Classification

Soru 369Soru →

A petty cashier was maintained on the imprest system with an initial float of $₦50,000$ on March 1, 2026. During the month of March, the following transactions took place:

- Paid for office stationery: $₦8,400$
- Paid for postage and stamps: $₦4,600$
- Paid for office cleaning: $₦6,500$
- Paid for staff traveling expenses: $₦9,200$
- Paid to a ledger creditor (Mr. Okafor): $₦5,000$
- Received refund from an employee for overpaid traveling expenses: $₦1,500$

At the end of the month, management decided to increase the imprest float by $₦10,000$ starting from April 1. What is the total amount (in $₦$ ) required from the chief cashier to restore and adjust the petty cash float to its new level?

Cevabı ve açıklamayı göster

Cevap: 42200

Cevap

The total amount required from the chief cashier to restore and adjust the petty cash float is

₦42,200

.

Under the imprest system, the amount issued by the chief cashier must restore spent funds and accommodate any decided increase in the float. Net expenditure incurred during the period is total disbursements (

₦33,700

) minus refunds received (

₦1,500

), yielding

₦32,200

. Adding the

₦10,000

increase in float gives a total required amount of

₦32,200 + ₦10,000 = ₦42,200

.

Adım Adım Çözüm

1

Calculate total petty cash disbursements during the month

₦33,700

Sum all petty payments made:

8,400 + 4,600 + 6,500 + 9,200 + 5,000 = ₦33,700

.

2

Determine net expenditure by subtracting petty receipts

₦32,200

The

₦1,500

refund received reduces net spent cash from float:

33,700 - 1,500 = ₦32,200

.

3

Calculate cash remaining in hand at month end

₦17,800

Subtract net spent amount from original float:

50,000 - 32,200 = ₦17,800

.

4

Determine cash required from chief cashier for new float level

₦42,200

New float requirement is

₦50,000 + ₦10,000 = ₦60,000

. Cash needed =

60,000 - 17,800 = ₦42,200

(or net expenses of

₦32,200

plus float increase of

₦10,000

).

Anahtar Kavram

Imprest system reimbursement and float adjustment calculation

Tahmini Süre:2m 0s

Soru 370Soru →

Zainab and Chidi opened a Joint Bank Account to execute a joint venture in imported fabrics, sharing profits and losses in the ratio of $3:2$ . Zainab and Chidi contributed $\text{₦}1,500,000$ and $\text{₦}1,000,000$ respectively into the Joint Bank. Goods costing $\text{₦}1,800,000$ were paid for from the Joint Bank, and freight charges of $\text{₦}120,000$ were also paid from the Joint Bank. Zainab supplied additional materials valued at $\text{₦}250,000$ from her personal stock. Chidi incurred advertising expenses of $\text{₦}80,000$ from his personal funds and was entitled to a $5\%$ commission on gross sales for managing the venture. Total sales proceeds of $\text{₦}3,000,000$ were deposited into the Joint Bank Account. At the close of the venture, Zainab took over unsold goods valued at $\text{₦}150,000$ . What is the final cash amount in Naira ( $\text{₦}$ ) paid to Chidi from the Joint Bank Account to close his account?

Cevabı ve açıklamayı göster

Cevap: 1530000

Cevap

The final cash amount paid to Chidi from the Joint Bank Account to settle his ledger account is ₦1,530,000.

The final cash settlement is determined by finding the closing balance of Chidi's personal ledger account. Total revenue earned by the venture is ₦3,150,000 (₦3,000,000 cash sales + ₦150,000 stock taken by Zainab). Total expenses equal ₦2,400,000 (₦1,800,000 purchases + ₦120,000 freight + ₦250,000 materials supplied by Zainab + ₦80,000 advertising paid by Chidi + ₦150,000 commission earned by Chidi). The net profit is ₦750,000, of which Chidi's 2/5 share is ₦300,000. Crediting Chidi's account with his capital contribution (₦1,000,000), advertising expenses paid (₦80,000), commission (₦150,000), and profit share (₦300,000) gives a final settlement amount of ₦1,530,000 paid to him from the Joint Bank Account.

Adım Adım Çözüm

1

Calculate Chidi's management commission on gross sales.

Commission = 5% × ₦3,000,000 = ₦150,000

Chidi is entitled to a 5% commission on total sales proceeds generated by the joint venture.

2

Determine total income credited to the Joint Venture Account.

Total Credits = ₦3,000,000 (Sales) + ₦150,000 (Unsold stock taken over by Zainab) = ₦3,150,000

Both sales proceeds and the value of inventory taken over by co-venturers represent income to the venture.

3

Determine total costs and expenses debited to the Joint Venture Account.

Total Debits = ₦1,800,000 (Purchases) + ₦120,000 (Freight) + ₦250,000 (Zainab's materials) + ₦80,000 (Chidi's advertising) + ₦150,000 (Chidi's commission) = ₦2,400,000

All direct venture costs paid via Joint Bank, personal expenditure by venturers, and earned commission are venture expenses.

4

Calculate the overall net profit of the joint venture.

Net Profit = Total Income (₦3,150,000) - Total Expenses (₦2,400,000) = ₦750,000

Net profit is the excess of total venture revenue over total venture costs.

5

Calculate Chidi's share of the net profit using the profit-sharing ratio of 3:2.

Chidi's Share of Profit = (2 / 5) × ₦750,000 = ₦300,000

Chidi receives 2 parts out of the total 5 parts of the net joint venture profit.

6

Calculate the closing credit balance on Chidi's Personal Account.

Chidi's Balance = ₦1,000,000 (Initial Capital) + ₦80,000 (Advertising paid) + ₦150,000 (Commission) + ₦300,000 (Share of profit) = ₦1,530,000

Chidi's ledger account is credited with all cash contributed, personal expenses incurred on behalf of the venture, commission earned, and his profit share.

Anahtar Kavram

Final cash settlement in joint venture accounts using a separate set of books

Soru 371Soru →

On a topographical map with a Representative Fraction (RF) of $1 : 50,000$ , a straight coastline segment between two coastal lighthouses measures $14.4\text{ cm}$ . What is the actual ground distance between the two lighthouses in kilometers?

Cevabı ve açıklamayı göster

Cevap: 7.2

Cevap

The actual ground distance between the two lighthouses is 7.2 km.

To find actual ground distance from a Representative Fraction (

1 : 50,000

), multiply the measured map distance (

14.4\text{ cm}

) by the scale denominator (

50,000

) to get

720,000\text{ cm}

. Converting to kilometers by dividing by

100,000

yields

7.2\text{ km}

.

Adım Adım Çözüm

1

Calculate the ground distance in centimeters using the Representative Fraction denominator.

14.4\text{ cm} \times 50,000 = 720,000\text{ cm}

The scale ratio

1 : 50,000

means

1\text{ cm}

on the map represents

50,000\text{ cm}

on the ground.

2

Convert the ground distance from centimeters to meters.

720,000\text{ cm} \div 100 = 7,200\text{ m}

There are

100\text{ cm}

in

1\text{ meter}

.

3

Convert the ground distance from meters to kilometers.

7,200\text{ m} \div 1,000 = 7.2\text{ km}

There are

1,000\text{ meters}

in

1\text{ kilometer}

.

Anahtar Kavram

Converting map distance to actual ground distance using Representative Fraction (RF) scale

Tahmini Süre:1m 0s

Soru 372Soru →

A surveyor measures a straight stretch of road between two agricultural settlements on a topographical map drawn to a scale of $1 : 75,000$ . If the distance between the two settlements on the map is $16\text{ cm}$ , what is the actual ground distance in kilometers?

Cevabı ve açıklamayı göster

Cevap: 12

Cevap

The actual ground distance between the two settlements is

12\text{ km}

.

A Representative Fraction scale of

1 : 75,000

means

1\text{ cm}

on the map represents

75,000\text{ cm}

on the ground. Converting

75,000\text{ cm}

into kilometres gives

\frac{75,000}{100,000} = 0.75\text{ km}

. Multiplying the measured map length of

16\text{ cm}

by

0.75\text{ km/cm}

yields an actual distance of

12\text{ km}

.

Adım Adım Çözüm

1

Convert scale denominator from centimetres to kilometres

1\text{ cm on map} = 75,000\text{ cm on ground} = 0.75\text{ km}

Dividing centimetres by

100,000

(

100\text{ cm/m} \times 1,000\text{ m/km}

) converts centimetres to kilometres.

2

Calculate the actual ground distance

16\text{ cm} \times 0.75\text{ km/cm} = 12\text{ km}

Multiplying the measured distance on the map by the ground distance represented per centimetre gives the total ground distance.

Anahtar Kavram

Map Scale Conversion and Ground Distance Calculation

Soru 373Soru →

A map drawn at a scale of $1 : 50,000$ is enlarged to twice its original linear dimensions. Calculate the denominator of the new Representative Fraction (R.F.) scale.

Cevabı ve açıklamayı göster

Cevap: 25000

Cevap

The denominator of the new Representative Fraction scale is 25,000.

When a map is enlarged linearly by a factor of 2, its scale increases by a factor of 2. Since Representative Fraction scale is expressed as 1 divided by the denominator, doubling the scale halves the denominator value from 50,000 to 25,000.

Adım Adım Çözüm

1

Identify the given scale denominator and enlargement factor

Original denominator = 50,000; Enlargement factor = 2

Enlarging a map makes features larger on paper, meaning 1 unit on the map represents a smaller ground distance, which corresponds to a larger scale (smaller denominator).

2

Calculate the new scale denominator

50,000 / 2 = 25,000

New Scale Denominator = Original Scale Denominator / Linear Enlargement Factor

Anahtar Kavram

Map enlargement decreases the denominator of the Representative Fraction proportionally by the linear factor of enlargement.

Soru 374Soru →

At the end of the financial year, a trader's trial balance showed Trade Receivables of $\text{₦}85,000$ and an existing Provision for Doubtful Debts of $\text{₦}2,500$ . Before preparing final accounts, an additional bad debt of $\text{₦}5,000$ is to be written off, and the provision for doubtful debts is to be adjusted to $5\%$ of the remaining trade receivables. Calculate the net increase in the provision for doubtful debts (in $\text{₦}$ ) to be charged as an expense in the Profit and Loss Account.

Cevabı ve açıklamayı göster

Cevap: 1500

Cevap

The net increase in the provision for doubtful debts to be charged to the Profit and Loss Account is

\text{₦}1,500

.

To find the income statement expense, first subtract the additional bad debts written off (

\text{₦}5,000

) from gross trade receivables (

\text{₦}85,000

), yielding net receivables of

\text{₦}80,000

. Applying the

5\%

rate yields a required provision of

\text{₦}4,000

. Subtracting the existing provision balance of

\text{₦}2,500

gives a net increase of

\text{₦}1,500

to be charged to the Profit and Loss Account.

Adım Adım Çözüm

1

Deduct additional bad debts written off from total receivables

Net Trade Receivables =

\text{₦}85,000 - \text{₦}5,000 = \text{₦}80,000

Bad debts written off represent confirmed irrecoverable debts and must be deducted prior to estimating the provision for doubtful debts.

2

Calculate the new required provision balance

New Provision =

5\% \times \text{₦}80,000 = \text{₦}4,000

The provision percentage is applied to the remaining collectible trade receivables.

3

Determine the net adjustment required for the Profit and Loss Account

Net Increase =

\text{₦}4,000 - \text{₦}2,500 = \text{₦}1,500

The Profit and Loss Account only reflects the incremental change between the new provision required and the old provision balance.

Anahtar Kavram

Creation and Adjustment of Provision for Doubtful Debts

Soru 375Soru →

On a topographical map drawn to a scale of $1 : 40,000$ , the measured length of a railway line is $17.5\text{ cm}$ . If the map is enlarged so that a statement scale of $1\text{ cm to } 250\text{ m}$ applies, what is the length of the railway line on the new enlarged map, in centimeters?

Cevabı ve açıklamayı göster

Cevap: 28

Cevap

The length of the railway line on the enlarged map is

28\text{ cm}

.

To find the distance on the enlarged map, first calculate the actual ground distance by multiplying the original map distance (

17.5\text{ cm}

) by the scale denominator (

40,000

), yielding

700,000\text{ cm}

or

7,000\text{ m}

. Next, divide this ground distance by the ground distance represented per centimeter on the new map (

250\text{ m}

), which yields

28\text{ cm}

.

Adım Adım Çözüm

1

Calculate the actual ground distance using the original map scale and measured distance.

Ground distance =

17.5\text{ cm} \times 40,000 = 700,000\text{ cm} = 7,000\text{ m}

.

Multiplying the map distance by the scale factor gives the true ground distance.

2

Calculate the corresponding distance on the enlarged map using the new statement scale.

New map distance =

\frac{7,000\text{ m}}{250\text{ m/cm}} = 28\text{ cm}

.

Dividing the total ground distance by the ground distance represented per centimeter on the new map yields the map measurement.

Anahtar Kavram

Ground distance calculation and map scale conversion during map enlargement.

Soru 376Soru →

On 1 January 2025, the Advertising Account of Folake & Co. showed a prepaid balance of $\text{₦}18,000$ and an accrued balance of $\text{₦}12,000$ . During the year ended 31 December 2025, a total cash payment of $\text{₦}145,000$ was made for advertising. At the end of the financial year on 31 December 2025, advertising accrued was $\text{₦}25,000$ and advertising prepaid was $\text{₦}22,000$ . What is the total amount to be charged to the Profit and Loss Account for advertising for the year ended 31 December 2025?

Cevabı ve açıklamayı göster

Cevap: 154000

Cevap

₦154,000

Under the accrual basis of accounting, expenses charged to the Profit and Loss Account must relate strictly to the current financial year. Adding the opening prepayment (₦18,000) and closing accrual (₦25,000) while deducting the opening accrual (₦12,000) and closing prepayment (₦22,000) from the cash paid (₦145,000) yields ₦154,000.

Adım Adım Çözüm

1

Identify cash paid for advertising during the financial period

Total cash paid = ₦145,000

This represents the initial cash outflow before applying accrual adjustments.

2

Adjust for opening balances of prepayment and accrual

Net opening adjustment = +₦18,000 (prepaid) - ₦12,000 (accrued) = +₦6,000

Opening prepayment was paid in the previous period for the current year, whereas opening accrual represents previous period expenses settled out of this year's cash payments.

3

Adjust for closing balances of accrual and prepayment

Net closing adjustment = +₦25,000 (accrued) - ₦22,000 (prepaid) = +₦3,000

Closing accrual is an expense incurred in the current period but unpaid, while closing prepayment is a cash payment made for the upcoming period.

4

Compute net charge to Profit and Loss Account

Profit & Loss charge = ₦145,000 + ₦6,000 + ₦3,000 = ₦154,000

Summing the cash paid with all periodic adjustments applies the accrual basis of accounting to find the true expense for the financial year.

Anahtar Kavram

Accrual Accounting and Expense Adjustment

Tahmini Süre:2m 0s

Soru 377Soru →

Sunrise Recreation Club received ₦500,000 as entrance fees during the financial year. According to the club's constitution, 60% of entrance fees are to be capitalized, with the remainder recognized as revenue income. What amount (in ₦) should be credited to the Income and Expenditure Account for the year?

Cevabı ve açıklamayı göster

Cevap: 200000

Cevap

₦200,000 should be credited to the Income and Expenditure Account.

When a non-profit organization's policy specifies that a portion of entrance fees should be capitalized, only the remaining percentage is treated as revenue income. Subtracting the 60% capital portion leaves 40% for revenue income. 40% of ₦500,000 equals ₦200,000, which is credited to the Income and Expenditure Account.

Adım Adım Çözüm

1

Determine the proportion of entrance fees treated as revenue income

40% (since 60% is capitalized, 100% - 60% = 40%)

Only the non-capitalized portion of entrance fees is recognized as revenue income in the Income and Expenditure Account.

2

Calculate the monetary amount of the revenue portion

��200,000

40% of ₦500,000 = 0.40 × 500,000 = ₦200,000

Anahtar Kavram

Treatment of Entrance Fees in Non-Profit Organizations

Soru 378Soru →

A proposed power transmission line measures $14.4\text{ cm}$ on Map X, which is drawn to a Representative Fraction (RF) scale of $1 : 250,000$ . The same power line is subsequently transferred to Map Y, where its total path is measured across two contiguous sections: a straight stretch of $8.0\text{ cm}$ and a curved section of $10.0\text{ cm}$ . What is the denominator of the Representative Fraction (RF) scale of Map Y?

Cevabı ve açıklamayı göster

Cevap: 200000

Cevap

The denominator of the Representative Fraction (RF) scale of Map Y is 200,000 (representing a scale of

1 : 200,000

).

Because ground distance remains constant, the actual distance is

14.4\text{ cm} \times 250,000 = 3,600,000\text{ cm}

. On Map Y, the total route length is

8.0\text{ cm} + 10.0\text{ cm} = 18.0\text{ cm}

. Dividing

3,600,000\text{ cm}

by

18.0\text{ cm}

gives a scale denominator of

200,000

, which corresponds to a scale of

1 : 200,000

.

Adım Adım Çözüm

1

Calculate the actual ground distance using the length on Map X and its scale

Ground distance =

14.4\text{ cm} \times 250,000 = 3,600,000\text{ cm}

(or

36\text{ km}

)

Map scale defines the relationship between map distance and ground distance:

\text{Ground distance} = \text{Map distance} \times \text{Scale denominator}

.

2

Determine the total measured length of the route on Map Y

Total distance on Map Y =

8.0\text{ cm} + 10.0\text{ cm} = 18.0\text{ cm}

The entire feature consists of two contiguous sections that must be added together.

3

Calculate the RF scale denominator of Map Y

RF denominator =

\frac{3,600,000\text{ cm}}{18.0\text{ cm}} = 200,000

The scale denominator is the ratio of ground distance to map distance when both are expressed in the same unit.

Anahtar Kavram

Ground distance conservation across maps of differing scales and multi-segment scale denominator calculation.

Tahmini Süre:2m 30s

Soru 379Soru →

Femi and Ibrahim entered into a joint venture to trade in surplus industrial machinery, maintaining a separate set of books. They agreed to share profits and losses in the ratio of $3:2$ , respectively. They opened a Joint Bank account with initial contributions of $\text{₦}1,200,000$ from Femi and $\text{₦}800,000$ from Ibrahim. Purchases paid directly from the Joint Bank amounted to $\text{₦}1,500,000$ , while Femi supplied additional goods from his own business stock valued at $\text{₦}300,000$ . Ibrahim paid carriage and handling expenses of $\text{₦}100,000$ from his personal bank account, and general venture expenses of $\text{₦}150,000$ were paid out of the Joint Bank. Femi was entitled to a management commission of $5\%$ on total gross sales proceeds. Total sales cash proceeds deposited into the Joint Bank were $\text{₦}2,400,000$ , and the remaining unsold inventory was taken over by Ibrahim at an agreed valuation of $\text{₦}200,000$ . What is the final amount in Naira ( $\text{₦}$ ) payable to Femi from the Joint Bank Account upon final cash settlement?

Cevabı ve açıklamayı göster

Cevap: 1878000

Cevap

The final amount payable to Femi from the Joint Bank Account upon settlement is ₦1,878,000.

To find the amount payable to Femi, compute the Net Profit of the Joint Venture Account first. Total credits are ₦2,600,000 (sales of ₦2,400,000 plus inventory taken over by Ibrahim at ₦200,000). Total debits are ₦2,170,000 (purchases ₦1,500,000 + stock supplied by Femi ₦300,000 + expenses by Ibrahim ₦100,000 + Joint Bank expenses ₦150,000 + Femi's commission of ₦120,000). The net venture profit is ₦430,000, of which Femi receives 3/5 = ₦258,000. Adding all amounts due to Femi in his personal account (Capital ₦1,200,000 + Goods ₦300,000 + Commission ₦120,000 + Profit Share ₦258,000) gives a final settlement of ₦1,878,000.

Adım Adım Çözüm

1

Calculate Femi's management commission

₦120,000

Management commission is 5% of total gross sales proceeds of ₦2,400,000.

2

Calculate total credits in the Joint Venture Account

₦2,600,000

Total revenue includes cash sales deposited into Joint Bank (₦2,400,000) plus inventory taken over by Ibrahim (₦200,000).

3

Calculate total debits in the Joint Venture Account

₦2,170,000

Sum of purchases (₦1,500,000), goods supplied by Femi (₦300,000), expenses by Ibrahim (₦100,000), Joint Bank expenses (₦150,000), and commission (₦120,000).

4

Calculate net profit of the joint venture

₦430,000

Net Profit = Total Credits (₦2,600,000) - Total Debits (₦2,170,000).

5

Determine Femi's share of net profit

₦258,000

Femi's ratio is 3/5 of ₦430,000.

6

Determine final cash payable to Femi from Femi's Personal Account

₦1,878,000

Femi's credit balance = Capital (₦1,200,000) + Stock supplied (₦300,000) + Commission (₦120,000) + Share of profit (₦258,000).

Anahtar Kavram

Final settlement calculation in Joint Venture accounting under the separate set of books method

Soru 380Soru →

The following ledger account balances were extracted from the books of Binta Traders at 31 December 2025:

- Purchases: ₦240,000
- Sales: ₦410,000
- Motor Vehicles (Cost): ₦180,000
- Provision for Depreciation on Motor Vehicles: ₦36,000
- Trade Debtors: ₦75,000
- Trade Creditors: ₦52,000
- Cash at Bank: ₦34,000
- Capital: ₦150,000
- Returns Inwards: ₦14,000
- Returns Outwards: ₦9,000
- Rent and Rates: ₦22,000
- Discount Received: ₦6,000
- Provision for Doubtful Debts: ₦4,000
- Opening Inventory: ₦45,000
- Drawings: ₦18,000

When preparing the trial balance, the bookkeeper inserted a Suspense Account balance to make the total of the debit column equal the total of the credit column. What is the value of the balance (in ��) required in the Suspense Account?

Cevabı ve açıklamayı göster

Cevap: 39000

Cevap

The balance required in the Suspense Account to make the Trial Balance agree is ₦39,000.

The total of all credit balances (Sales ₦410,000 + Provision for Depreciation ₦36,000 + Trade Creditors ₦52,000 + Capital ₦150,000 + Returns Outwards ₦9,000 + Discount Received ₦6,000 + Provision for Doubtful Debts ₦4,000) is ₦667,000. The total of all debit balances (Purchases ₦240,000 + Motor Vehicles ₦180,000 + Trade Debtors ₦75,000 + Cash at Bank ₦34,000 + Returns Inwards ₦14,000 + Rent and Rates ₦22,000 + Opening Inventory ₦45,000 + Drawings ₦18,000) is ₦628,000. The shortfall on the debit side is ₦667,000 - ₦628,000 = ₦39,000, which is the required Suspense Account balance.

Adım Adım Çözüm

1

Classify each ledger account balance into debit or credit columns according to double-entry rules.

Debit Balances: Purchases (₦240,000), Motor Vehicles (₦180,000), Trade Debtors (₦75,000), Cash at Bank (₦34,000), Returns Inwards (₦14,000), Rent and Rates (₦22,000), Opening Inventory (₦45,000), Drawings (₦18,000). Credit Balances: Sales (₦410,000), Provision for Depreciation (₦36,000), Trade Creditors (₦52,000), Capital (₦150,000), Returns Outwards (₦9,000), Discount Received (₦6,000), Provision for Doubtful Debts (₦4,000).

Assets, expenses, drawings, and sales returns carry debit balances, whereas liabilities, capital, revenues, contra-asset provisions, purchase returns, and gains carry credit balances.

2

Sum up the debit balances and credit balances separately.

Total Debits = ₦628,000; Total Credits = ₦667,000.

Comparing both column totals determines the discrepancy in the Trial Balance.

3

Compute the missing Suspense Account balance.

Suspense Account Balance = ₦667,000 - ₦628,000 = ₦39,000.

A debit entry of ₦39,000 is required in the Suspense Account to equalize the debit side with the credit total of ₦667,000.

Anahtar Kavram

Balancing Ledger Accounts and Extracting Trial Balance

Tahmini Süre:2m 0s

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