The statement of financial position of KY Limited at 31 December 2019 shows the following. Non-current assets GH 1,350,000; current assets GH 140,000; ordinary share capital GH 900,000; general reserve GH 150,000; 10% debentures GH 200,000; current liabilities GH 90,000; retained earnings GH 150,000 The profit from operations for the year was GH 65 000 and the finance costs were GH 20 000. What is the return on capital employed for 2019? A. 3.21% B. 4.64% C. 5.7% D. 5.91%

A cheque for GH 7,330 was received from Rao after allowing him a discount of GH 70. It was endorsed in favour of Sen in full settlement of GH 7,500. The cheque was dishonoured, but no entry for dishonor was passed in the books. If this error located after preparation of final account then which of the following rectification entry is correct? A. Rao A/c Dr. GH 7,400, Profit & Loss Adj. A/c Dr. GH 100, To Sen A/c GH 7,500

B. Rao A/c Dr. GH 7,400, Profit & Loss Adj. A/c Dr. GH 100, To Suspense A/c GH 7,500

C. Rao A/c Dr. GH 100, Profit & Loss Adj. A/c Dr. GH 7,400, To Sen A/c GH 7,500

D. Rao A/c Dr. GH 100, Profit & Loss Adj. A/c Dr. GH 7,400, To Suspense A/c GH 7,500

A company has sales of GH 1,000. The company sells three types of goods. Sixty percent of sales are of type A which is sold at a mark-up of 20%. Type B goods are sold at a margin of 30%. The cost of type B sold in the year was GH 154 and total gross profit for the year was GH 184. What was the gross profit for type B? A. GH 10 B. GH 20 C. GH 30 D. GH 66

When the trial balance extracted from the books of Keman Enterprises at the year-end failed to balance, the difference was placed in a Suspense account. Identify the amount that would have been placed in suspense as a result of each of the following errors; GH 218,400 paid to a supplier was posted to the supplier as GH 214,800 A. Dr 3,600 B. Cr 3,600 C. Dr 218,400 D. Dr. 215,000