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2010 - JAMB Accounting Past Questions and Answers - page 1

1

The capital contribution by the partners is treated in the?

A
current account
B
capital account
C
trading account
D
balance sheet
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2

Given:

N6 000 10% preference shares of N0.50 each

N6 000 ordinary shares of N1 each

Capital reserves N2 700 000

Long-term liabilities N4 000 000

Find the value of authorized share capital?

A
13 000 000
B
12 000 000
C
9 000 000
D
15 700 000
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3

The directors' salaries paid are items of?

A
current liabilities
B
profit and loss account
C
trading account
D
current account
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4

Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled N800.

A provision of 2% was made for discount and 5% provision for bad and doubtful debts.

Find the amount for sundry debtors after provision?

A
N760 000
B
N744800
C
N744 000
D
N784 000
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5

The financial plan of the government for a year is contained in the?

A
budget
B
cash analysis book
C
vote book
D
gazette
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6

An ordinary share of N80 was issued at N96. The share was issued at?

A
premium
B
par
C
discount
D
loss
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7

An increase in government expenditure within a year is taken care of by means of?

A
financial regulations
B
virement
C
warrant
D
supplementary estimate
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8

As evidence of payments to a government ministry, the revenue collectors will issue?

A
treasury receipt
B
receipts vourcher card
C
treasury card
D
stores receipts vourcher
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9
How much rent is apportioned to department K?
A
N1200
B
N1800
C
N2000
D
N750
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10
How much selling and distribution expenses is apportioned to department M?
A
N 800
B
N 600
C
N400
D
N1800
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