2001 - JAMB Accounting Past Questions and Answers - page 2

When a bill is negotiated to a bank, it is said be?

Given that the balance as per cash book after necessary adjustment was N4,315, unpresented cheques were N1,688 and the bank statement balance was N4,791, what was the balance of uncredited cheques?

If a property developing company sells a completed building to an interested third party, this sale can be treated in the books of the company as?

Use the information below to answer question Palaju Enterprises had fixed assets costing N900,000 with provision for depreciation of N150,000 were disposed of during the period. Fixed assets of N100,000 were added during the year. Provision for depreciation was N350,000 at the beginning of the year and N300,000 at the end of the year. What was the value of fixed assets at the beginning of the year?

Use the information below to answer question Palaju Enterprises had fixed assets costing N900,000 with provision for depreciation of N150,000 were disposed of during the period. Fixed assets of N100,000 were added during the year. Provision for depreciation was N350,000 at the beginning of the year and N300,000 at the end of the year. The depreciation expenses charged for the year is?

A reduction in the catalogue price of an article given by a wholesaler to a retailer is called a?

Use the information below to answer question . Purchases ledger opening balances N4,000 Sales ledger opening balances N6,000 Credit purchases during the year N25,000 Discounts allowed N1,000 Returns inwards N2,000 Credit sales during the year N10,000 Returns outwards N6,000 Calculate the sales ledger balance?

Use the information below to answer question . Purchases ledger opening balances N4,000 Sales ledger opening balances N6,000 Credit purchases during the year N25,000 Discounts allowed N1,000 Returns inwards N2,000 Credit sales during the year N10,000 Returns outwards N6,000 What is the purchases ledger balance?

For an incomplete record to provide necessary information, it must be converted to?

Use the information below to answer question Given: 31/12/98 31/12/99 Assets: Plant and Mach. N1,500 N1,200 Fixtures N700 N520 Stock N500 N600 Debtors N900 N400 Cash N200 N300 Liabilities: Creditor N500 N600 Loan N600 N400 Determine the total fixed assets from the opening balance sheet?