2007 - JAMB Accounting Past Questions and Answers - page 4
31
Use the information below to answer question .
Debtors.................................N20
Provision for bad debts..................10%
Provision for discount on debtors........5%
The provision for bad debt is?
Debtors.................................N20
Provision for bad debts..................10%
Provision for discount on debtors........5%
The provision for bad debt is?
A
N2000
B
N800
C
N3000
D
N1900
correct option: a
Users' Answers & Comments32
The purchases ledger control account showed a credit balance of N525 000 on April 30, 2006.
This amount shows?
This amount shows?
A
what the debtor of a business enterprise owed the business
B
the total amount which each debtor owed the business
C
what a business enterprise owed its creditors
D
the amount whicih a business enterprise owed creditor
correct option: c
Users' Answers & Comments33
Given:
Prepaid b/f.......................N10 000
Cash paid during the year.........N20 000
The amount to be charged to the profit and loss account is?
Prepaid b/f.......................N10 000
Cash paid during the year.........N20 000
The amount to be charged to the profit and loss account is?
A
N30 000
B
N25 000
C
N5 000
D
20 000
correct option: b
Users' Answers & Comments34
Use the information below to answer question
Net loss.......................N2300
Capital........................N10500
Liabilities....................N7200
Find the value of the total assets?
Net loss.......................N2300
Capital........................N10500
Liabilities....................N7200
Find the value of the total assets?
A
N17 700
B
N10 500
C
N20 000
D
N15 400
correct option: d
Users' Answers & Comments35
Use the information below to answer question
Net loss.......................N2300
Capital........................N10500
Liabilities....................N7200
What will be the equity of the business?
Net loss.......................N2300
Capital........................N10500
Liabilities....................N7200
What will be the equity of the business?
A
N12 800
B
N4900
C
N8200
D
N9500
correct option: c
Users' Answers & Comments36
The process whereby a cheque received by one person is given to another is known as?
A
cheque crossing
B
payment in cheque
C
cheque transfer
D
cheque endorsement
correct option: c
Users' Answers & Comments37
Journal proper is used in recording?
A
transactions that are not regular
B
returns from customers
C
credit sales
D
the receipt and payment for money
correct option: a
Users' Answers & Comments38
Use the information below to answer questions
Balance as per cash book................N13560
Unpresented cheques.....................N5120
Uncredited lodgements...................N2300
Dividend received not entered
in the cash book........................N2000
Bank charges............................N280
Standing order payments.................N600
Balance as per bank statement............?
Calculate the balance in the bank statement.
Balance as per cash book................N13560
Unpresented cheques.....................N5120
Uncredited lodgements...................N2300
Dividend received not entered
in the cash book........................N2000
Bank charges............................N280
Standing order payments.................N600
Balance as per bank statement............?
Calculate the balance in the bank statement.
A
N14 680
B
N15 560
C
17 500
D
16 380
correct option: c
Users' Answers & Comments39
Use the information below to answer questions
Balance as per cash book................N13560
Unpresented cheques.....................N5120
Uncredited lodgements...................N2300
Dividend received not entered
in the cash book........................N2000
Bank charges............................N280
Standing order payments.................N600
Balance as per bank statement............?
What is the adjusted cash book balance?
Balance as per cash book................N13560
Unpresented cheques.....................N5120
Uncredited lodgements...................N2300
Dividend received not entered
in the cash book........................N2000
Bank charges............................N280
Standing order payments.................N600
Balance as per bank statement............?
What is the adjusted cash book balance?
A
N14 680
B
N15 560
C
N16 440
D
N17 000
correct option: a
Users' Answers & Comments40
The fourth stage of the accounting information system is?
A
recording
B
interpreting
C
summarizing
D
classifying
correct option: c
Users' Answers & Comments