ACC 111- PRINCIPLES OF ACCOUNTING 1 TEST (04022019:2-4PM) FOR FULL TIME

FOR WHOM:  ACCOUNTANCY DEPARTMENT:
(a)The following information has been given to you about Aiyefele Nigeria Limited`s factory plant and machinery.

 Cost                       N6 million

 Residual value       N720,000

 Useful life             6 years

 You are required to calculate the annual depreciation charges for each year using:

  (i)   Sum of the year digit Method                      (ii) Diminishing Method

(b) List twenty source documents you are familiar with.

FOR WHOM:  BUSINESS ADMINISTRATION  DEPARTMENT:
The following information has been given to you about Aiyegbajeje Nigeria Limited`s factory plant and machinery.

 Cost                       N7.5 million

 Scrap value            N2,750,000

 Useful life              6years

 You are required to calculate the annual depreciation charges for each year using:

  (i)   Reducing Balance Method                   (ii)  Sum of the year digit Method

  (b) List twenty source documents you are familiar with. 

FOR WHOM:  OFFICE TECHNOLOGY AND MANAGEMENT  DEPARTMENT:

The following information has been given to you about Aiyele Nigeria Limited`s factory plant and machinery.

 Cost                       N 5 million

 Salvage value        N 625,000

 Useful life             6 years

 You are required to calculate the annual depreciation charges for each year using:

  (i)  Sum of the year digit Method                  (ii) Reducing Balance Method

(b) List twenty source documents you are familiar with. 

FOR WHOM:  COMPUTER SCIENCE  DEPARTMENT:

 The following information has been given to you about Aiyegbaogbon Nigeria Limited`s factory plant and machinery.

 Cost                       N 12 million

 Scrap value            N 3.5 million

 Useful life             6 years

 You are required to calculate the annual depreciation charges for each year using:

  (i)   Sum of the year digit Method                      (ii) Diminishing Method

(b) List twenty source documents you are familiar with. 

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Train your brain click below link:  

https://britstutors.blogspot.com/2018/10/train-your-brain.html   

ACC 111-PRINCIPLES OF ACCOUNTING 1 COURSE OUTLINE:

https://britstutors.blogspot.com/2018/11/acc-111-principles-of-accounts-1-course.html

Assignment  1 and 2 for Full-Time:

https://britstutors.blogspot.com/2018/12/assignment-on-acc-111-principles-of.html
Assignment 3 for Full-Time: 
https://britstutors.blogspot.com/2019/01/acc-111principles-of-accounting-1.html 
Assignment  4

https://britstutors.blogspot.com/2019/01/acc-111principles-of-accounting-1_28.html 

ACC 111 Lecture Notes: 

https://britstutors.blogspot.com/2018/11/introduction-to-accounting-note.html

ACC 101 Lecture Notes:

https://britstutors.blogspot.com/2018/11/acc-101-introduction-to-accounting.html 

Financial Statements:

https://britstutors.blogspot.com/2018/11/financial-statements.html 

Text Book by Patriot Odunaro B.J:

https://britstutors.blogspot.com/2018/10/principles-of-accounting-1-textbook-by.html 

13 Review Questions:

https://britstutors.blogspot.com/2018/10/tutorial-questions-on-principles-of.html

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