2002 - JAMB Accounting Past Questions and Answers - page 1

Given: Stock (1/4/94) N800 Purchases of flour N2450 Sales N4745 Wages of bakery staff N675 Carriage outwards N50 Salary of administrative staff N225 Stock (31/3/95) N940 Capital N1540 Determine the cost of goods sold?

In preparing the final accounts, the bad debt account is closed by a transfer to the?

In a petty cash book the imprest is N1380. Expenses: Stationery N350 Cleaning material N335 General expenses N265 How much was received to maintain the imprest at the ends of the month?

An entry in a subsidiary book which does not form part of the double entry system is a?

In an incomplete record, the preparation of the bank reconciliation ensures that?

In a petty cash book the imprest is N1380. Expenses: Stationery N350 Cleaning material N335 General expenses N265 How much was received to maintain the imprest at the ends of the month?

(i) Fixtures account (ii) Machinery account (iii) Wages accounts (iv) Rent account. Which of the above are nominal account?

NAFARA AND SONS Balance Sheet items as at 31st December, 1987. Capital N74480 Creditors N15875 Prepaid expenses N580 Motor vehicles N34750 Furniture N35850 Accrued expenses N645 Stock N8100 Cash balances N9911 Debtors N1809 Compute the value of current assets?

Use the information below to answer questions The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000. Creditors N50,000 Debtors N46,000 Loan N100,000 Stock N20,000 Motor vehicle N120,000 Building N70,000 Accrued wages 30,000 Bank N25 ,000 The value of capital invested by the owners is?

Use the information below to answer questions 9 and 10. The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000. Creditors N50,000 Debtors N46,000 Loan N100,000 Stock N20,000 Motor vehicle N120,000 Building N70,000 Accrued wages 30,000 Bank N25 ,000 The liabilities of Udo Co. Ltd is?