2003 - JAMB Accounting Past Questions and Answers - page 4

Given: Total debtors b/d 31/12/99...............N25 000 Cheques received from debtors ...........N255 000 Total debtors c/d 31/12/00...............N15 000 Determine the sales figure?

Which of these is a capital expenditure warrant?

For the purpose of conversion of a partnership to a company, a total purchase consideration of N3.6m was paid. If 30% of the purchase consideration was in cash and the rest by 50k shares, how many shares issued?

Given: (i) the consolidation revenue fund balance b/d..N650 000 (ii) issue from contingency fund amount to......N240 000 (iii) amount transferred to contingency fund is.N210 000 What is the consolidation revenue fund balance?

Use the information below to answer question Goods from head office................N13,400 Returns to head office ...............N118 Rates and insurance paid .............N188 Wages paid ...........................N913 Cash remitted to head office..........N16,625 Stock at 1/1/2000.....................N1,875 Rents paid ...........................N325 Stock at 31/12/2000 ..................N1,975 Sundry expenses ......................N200 The profit realized from the trade is?

Use the information below to answer question Goods from head office................N13,400 Returns to head office ...............N118 Rates and insurance paid .............N188 Wages paid ...........................N913 Cash remitted to head office..........N16,625 Stock at 1/1/2000.....................N1,875 Rents paid ...........................N325 Stock at 31/12/2000 ..................N1,975 Sundry expenses ......................N200 What is the total expenses?

The necessary accounts to be opened on the issue of ordinary share capital are?

The amount of each invoiced goods sent to the branch is debited to?

Gross profit in the branch adjustment account is transferred to the branch?

Mamsa Nigeria Limited issued 20 000 ordinary shares of N1.50 per share on 2nd July 2002. 1500 ordinary shares were fully subscribed for and their monies received as below: On application .........................N0.40 On allotment ...........................N0.20 First call (including premium ofN0.50)..N0.70 What is the balance of the ordinary share capital account after the first call was received?