2005 - JAMB Accounting Past Questions and Answers - page 1

Use the information below to answer questions .

subscription.....................N5420
Canopy rent......................N400
Wages............................N1100
Post-ages........................N300
loss from bar....................N160
Purchases of new furniture.......N120
Premises.........................N4000
Furniture at the beginning.......N1120

What is the cash balance in the receipts and payments account?

Use the information below to answer questions

Purchase:..Raw materials.................N15 000
Finished goods...........................N11 400
Stock:....(1/7/01)Raw materials..........N2 250
Work-in-progress.........................N1 875
Wages:.....Direct........................N17 100
Indirect.................................N5 400
Stock:.....(30/06/02)Raw materials.......N3 000
Work-in-progress.........................N3 375

Determine the accumulated fund value?

The not-for-profit-making organizations generate their income mainly from?

Gamji Memorial Club carried out an activity which yield a profit of N10 000. This amount is to be transferred to the?

Departmental accounts are prepared to aid the comparison of the?

A company incurred N21 000 in running its four departments, namely J,K,L and M with a corresponding number of employees as 1500, 2000, 3000 and 500 respectively. What is the share of department K?

The movement of goods from head office to a branch is treated in the in the head office accounts as?

The head office of Emeka Stores maintains the financial accounts of all its branches. The branch store account in the head office serves as the branch?

In reconciling the branch and head office accounts, remittance in transit in the branch books is treated as a?

Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including?