Neco 2019 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2019 Neco Financial Accounting examination.
The trial‑balance of XYZ Ltd. for the year ended 31 December shows: Sales ₦1,200,000; Opening stock ₦150,000; Purchases ₦800,000; Closing stock ₦130,000; Carriage‑inwards ₦20,000; Salaries expense ₦180,000; Equipment cost ₦200,000 (depreciated at 10% p.a.); Rent expense ₦50,000; Interest received ₦5,000; Dividend paid ₦30,000. The company has 10,000 ordinary shares. Calculate the net profit for the year and state the profit earned per share (rounded to two decimal places).
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About This Question
This is Neco 2019 Financial Accounting Question 32. It is one of the objective questions from the 2019 Neco Financial Accounting examination.
Difficulty level: Medium .
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