Use the information below to answer questions 23 and 24. ............................31/12/07.......31/12/08 Stocks........................₦4 200.........₦3...

Assessment: JAMB UTME - Principles of Accounts - 2010 Subject: Financial Accounting

Question 1 Report

Use the information below to answer questions 23 and 24.

............................31/12/07.......31/12/08

Stocks........................₦4 200.........₦3 900

Rates in advance..............₦1 000.........₦1 500

Accrued wages.................₦1 150.........₦1 350

Cost of goods sold was valued at ₦6 000.

Cash paid for rates and wages during the year was ₦1 300 and ₦2 200 respectively.

What is the value of purchases for the year 2008?

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