Dept A Dept B \(N\) Sales 250000 150,000 Purchases 500,000 250000 Discount received 24000 Discount allowed 15000 Determine the discount allowed by Departmen...

Assessment: JAMB UTME - Principles of Accounts - 2017 Subject: Financial Accounting

Question 1 Report

Dept A Dept B
\(N\)
Sales 250000 150,000
Purchases 500,000 250000
Discount received 24000
Discount allowed 15000

Determine the discount allowed by Department A.

Answer Details
To determine the discount allowed by Department A, the percentage of sales by Department A need to be calculated
Dep A 250,000
Dep B  150 , 000 400 , 000
% of Dep A =  250 , 000 400000  X 100
= 62.5%
∴ Discount allowed in Dep A =  62.5 100  x 250,000
= ₦ 9,375
= ₦ 9,375

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning