JAMB - Accounts Principles Of Accounts (2002 - No. 43)
Use the information below to answer this question.
.............Total......... Dept.P.............Dept.Q
...............N...............N.................N
Sales.........10000............6000..............4000
Purchases......4000............1000..............3000
Discount received.1000..........?..................
Discounts allowed..2000...........................?.
Discount (allowed and received) are apportioned to the two departments on the basis of departmental sales and purchases.
Department P's share of discount received is
.............Total......... Dept.P.............Dept.Q
...............N...............N.................N
Sales.........10000............6000..............4000
Purchases......4000............1000..............3000
Discount received.1000..........?..................
Discounts allowed..2000...........................?.
Discount (allowed and received) are apportioned to the two departments on the basis of departmental sales and purchases.
Department P's share of discount received is
N750
N1000
N250
N500
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