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Question 9
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(a) List five sources of agricultural1oans. [5 marks]
(b) The following is an extract from Omega Farms Limited, for the year ending December 2006.
N K
- Cost of used generating set 15,375:00
- Cost of broiler birds 3,025:00
- Sales of eggs 5,000.00
- Costs of layer birds 1,500:00
- Sales of broiler birds 5,500:00
- Sales of layers 2,440:00
- Purchase of yam seed 53,397:00
- Cost of carriage on purchase yam seed 1,122:00
- Eggs consumed 1,000:00
- Broiler birds consumed 540:00
- Layers consumed 480:00
- Depreciation on buildings 1,500:00
- Depreciation on machinery 510:00
- Depreciation on economic trees 57:50
- Sales of yam 2,896:00
- Sales of 120 bags of maize 54,600:00
- Cost of used battery cages 500:00
- Appreciation on livestock 150:00
Prepare a profit and loss aCC01.mt for the farm. [11 marks]
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The question was very popular with the candidates and their performance was excellent. In questions 9(a) and (b), majority of the candidates were able to list the sources of agricultural loans and prepare a profit and loss account form the extract of Omega Farms Limited.
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