1997 - JAMB Accounting Past Questions and Answers - page 5

A company has 5% debentures worth N500 000 ordinary share capital N 2 000 000, and preference shares N1500 000. if the company made a profit of N 1 000 000, the debenture interest would amount to

A dividend of 10% in a company on 500 000 ordinary shares of N 1 nominal value has been declared, How much will a shareholder receive if he has 200 shares?

If goods are invoiced to the branch at cost and the invoice par value is N 2 000 with 5%discount rate, can remitted to the head office is

Which of the following are advantages of departmental accounts?

I. The department making the highest profit can be easily determined

II. The capital of the business can be calculated easily

III. Easy knowledge of the sources of funding

IV. Encouragement of healthy rivalry among the various departments

Public sector accounting is based on

The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal

The Correct closing balance for Musa's current account is

The correct closing balance for lawal's current account is