2010 - JAMB Accounting Past Questions and Answers - page 3

The source documents include?

A major cause of discrepancy between bank statement and the cash book that overstates the bank statement balance is the?

The bank charges levied on a current account holder is the charge on?

The course of discrepancies between the bank statement and the cash book that overstates the cash book is the?

Use the information below to answer question 14 and 15.

Sales....................................N10,900
Stock 1/1................................N1, 000
Stock 31/12..............................N2, 000
Purchases................................N4, 000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200

Find the gross profit.

The cost of goods available for sale is?

Benefit enjoyed for which payments have not been made are?

Use the information below to answer questions 16 and 17.

Sundry debtor..................N20,000
Provision for bad debts........N500

Provision for bad debt at 4% of sundry debtors.

Determine the provision for bad debts to profit and loss account?

Calculate the provision to be taken to the balance sheet?

If an organization maintains a periodic stock system, the stock quantities are?