Tüm alıştırma soruları

During the financial year ended 31 December 2025, a business paid $\text{₦}95,000$ by cash for electricity expenses. At 1 January 2025, electricity prepaid was $\text{₦}12,500$ and electricity accrued was $\text{₦}8,000$. At 31 December 2025, electricity accrued was $\text{₦}14,000$ and electricity prepaid was $\text{₦}6,500$. Calculate the amount of electricity expense to be debited to the Profit and Loss Account for the year ended 31 December 2025.

A textile merchant, Mr. Danjuma, insured his warehouse inventory against fire loss with two separate insurance companies: Policy A with Royal Exchange for $\text{N}15,000,000$ and Policy B with Mutual Benefits Assurance for $\text{N}25,000,000$. During a fire outbreak, the inventory suffered an actual confirmed loss of $\text{N}8,000,000$. Under the principle of contribution, what amount (in Naira) is Royal Exchange liable to pay to Mr. Danjuma?

A commercial enterprise records total current assets of $₦950,000$ and current liabilities of $₦400,000$ at the end of its financial year. What is the net working capital of the enterprise in Naira?

Apex Enterprises Plc was registered with an authorized share capital of $\text{₦}12,000,000$ consisting of ordinary shares of $\text{₦}1.50$ each. The company issued $60\%$ of its authorized shares to the public. The board of directors made a first call of $\text{₦}0.80$ per share and a second call of $\text{₦}0.40$ per share on all issued shares. At the end of the financial period, holders of $250,000$ shares defaulted on the second call, while holders of $150,000$ shares paid the uncalled balance of $\text{₦}0.30$ per share in advance. What is the total value (in $\text{₦}$) of the company's paid-up share capital?

Sterling Heights Plc issued $5,000,000$ ordinary shares of $₦2.00$ each to the public. The directors called up $₦1.50$ per share. All money called was received except for a default on $200,000$ shares where shareholders failed to pay the $₦0.50$ call portion of the called-up amount. What is the total paid-up capital of the company in Naira?

Binta Logistics Ltd insured its commercial cold-storage facility, valued at $\text{N}120,000,000$, against fire risk with two separate insurers: Underwriter Zenith for $\text{N}45,000,000$ and Underwriter Apex for $\text{N}35,000,000$. Both policies strictly enforce the Average Clause. Following an accidental fire outbreak, the assessed physical damage to the facility amounts to $\text{N}36,000,000$. What is the exact amount of compensation (in Naira) payable by Underwriter Zenith to Binta Logistics Ltd?

The financial extract of Danjuma & Sons Enterprises at the close of the trading year reveals the following account balances:

- Premises and Machinery: $\text{₦}3,500,000$
- Inventory (Stock): $\text{₦}850,000$
- Trade Debtors: $\text{₦}450,000$
- Bank Overdraft: $\text{₦}300,000$
- Trade Creditors: $\text{₦}500,000$
- 10% Long-term Debentures: $\text{₦}1,200,000$

What is the Capital Owned (Proprietor's Capital) of the enterprise in Naira?

In a commercial banking system, the Central Bank mandates a Cash Reserve Ratio of $15\%$. If the banking system generates a total deposit expansion of $\text{N}6,000,000$ through the credit creation process, what is the initial cash deposit (in Naira) made into the system?

A commercial banking system generated a maximum total credit expansion of $\text{N}1,000,000$ from a fresh initial cash deposit of $\text{N}200,000$. What is the mandatory Cash Reserve Ratio (CRR) set by the central bank, expressed as a percentage?

The following details relate to rent income of a business for the financial year ended 31 December 2025:

What is the amount to be credited to the Profit and Loss Account as rent income for the year ended 31 December 2025?

A commercial banking system maintains cash reserves of $\text{N}1,500,000$, which fully satisfies a mandatory Cash Reserve Ratio (CRR) of $15\%$. If the Central Bank reduces the CRR to $12\%$, what is the maximum additional credit expansion, in Naira, that the banking system can generate from the resulting excess reserves?

Vanguard Manufacturing Plc presents the following items in its financial records at the end of the year:

- Issued Ordinary Share Capital: $\text{₦}5,000,000$
- $8\%$ Debentures: $\text{₦}2,000,000$
- Share Premium: $\text{₦}500,000$
- Retained Earnings: $\text{₦}1,200,000$
- Bank Overdraft: $\text{₦}800,000$
- Trade Creditors: $\text{₦}600,000$

Calculate the total value of long-term capital available to the company in Naira.

Apex Nigeria Limited was registered with an authorized share capital of $800,000$ ordinary shares of $\text{₦}1.00$ each. The directors offered $500,000$ shares to the public, which were fully subscribed and called up. If calls in arrears on $10,000$ shares at $\text{₦}0.20$ per share remain unpaid, what is the value of the company's paid-up share capital in Naira ($\text{₦}$)?

A nucleus contains $6$ protons and $6$ neutrons. Given that the mass of a proton is $1.0078\text{ u}$, the mass of a neutron is $1.0087\text{ u}$, and the total binding energy of the nucleus is $93.10\text{ MeV}$, what is the mass of the nucleus in atomic mass units ($\text{u}$)? (Take $1\text{ u} = 931\text{ MeV}$)

Kalu and Nkechi entered into a joint venture to trade in timber, maintaining a separate set of books. They opened a Joint Bank Account to which Kalu paid $\text{₦}500,000$ and Nkechi paid $\text{₦}300,000$. Goods were bought for $\text{₦}600,000$ and carriage expenses of $\text{₦}50,000$ were paid out of the Joint Bank Account. All goods were sold for $\text{₦}950,000$ and deposited into the Joint Bank Account. Calculate the net profit of the joint venture in naira.

The following cost details were extracted from the financial records of Kaduna Industrial Fabrics Ltd for the accounting year ended 31 December 2025:

What is the Prime Cost of production for the year?

Audu and Bisi opened a Joint Bank Account for a venture in agro-processing equipment, maintaining a separate set of books. They agreed to share profits and losses in the ratio of $3:2$. Audu and Bisi contributed $\text{₦}1,500,000$ and $\text{₦}1,000,000$ respectively into the Joint Bank Account.

Transactions executed during the venture were as follows:
- Goods purchased through Joint Bank: $\text{₦}1,800,000$
- Freight and carriage paid through Joint Bank: $\text{₦}120,000$
- Goods supplied directly by Audu from his private stock: $\text{₦}300,000$
- Selling expenses paid directly by Bisi from personal funds: $\text{₦}80,000$
- Management commission due to Audu: $5\%$ on gross sales revenue
- Total sales proceeds deposited into Joint Bank: $\text{₦}3,000,000$
- Unsold stock taken over by Bisi at an agreed value of $\text{₦}150,000$

What is the final cash amount in Naira payable to Bisi from the Joint Bank Account upon settlement?

A business owner extracted the following balances from the trading records for the year ended 31 December 2025:

- Opening Inventory: $\text{₦}15,000$
- Purchases: $\text{₦}80,000$
- Carriage Inwards: $\text{₦}2,000$
- Closing Inventory: $\text{₦}20,000$

What is the Cost of Goods Sold in Naira?

The accounting records of Kolawole Enterprises showed the following balances for the year ended 31 December 2025:

- Gross Sales: $\text{₦}450,000$
- Returns Inwards: $\text{₦}15,000$
- Opening Inventory: $\text{₦}60,000$
- Purchases: $\text{��}280,000$
- Returns Outwards: $\text{₦}10,000$
- Carriage Inwards: $\text{₦}12,000$
- Carriage Outwards: $\text{₦}8,000$
- Goods withdrawn by owner for personal use: $\text{₦}6,000$

If the closing inventory is valued at $20\%$ of the cost of goods available for sale, what is the Gross Profit of the enterprise in Naira?

The following details were extracted from the books of Emeka Ventures for the financial year ended 31st December 2025:

Adjustments at 31st December 2025:
- Rent prepaid: $\text{N}5,000$
- Provision for doubtful debts is to be adjusted to $5\%$ of Trade Debtors standing at $\text{N}100,000$.

What is the Net Profit of Emeka Ventures for the year in Naira?