ASSIGNMENT 1:
Olowonishaye Nigeria Limited provides the following information relating to its accounts for three years as shown in the table below:
|
Year |
Capital |
Profit |
Returns on Capital |
|
|
N |
N |
% |
|
2021 |
975,000 |
|
45 |
|
2020 |
585,000 |
117,000 |
|
|
2019 |
650,000 |
|
35 |
Required:
(i) Calculate profits for year 2019 and 2021.
(ii) Calculate returns on capital for year 2020.
(iii) Calculate percentage increase in profit between year 2020 and 2021.
(iv) Calculate percentage decrease in profit between year 2019 and 2020.
(v) Calculate increase in capital between year 2020 and 2021.
(vi) Calculate decrease in capital between year 2019 and 2020.
Hints: show all formular and workings
ASSIGNMENT 2:
(a) Accounting is both an art and science. Briefly discuss
(b) Without Book-Keeping there would n`t be Accounting. Discuss
(c) State five each quantitative and qualitative nature of accounting
INSTRUCTION: TO BE SUBMITTED ON OR BEFORE FRIDAY NOVEMBER 26, 2021(FULL TIME STUDENTS) AND SATURDAY NOVEMBER 27, 2021 (PART TIME STUDENTS) AROUND 10A.M PROMPT.
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