2011 - JAMB Accounting Past Questions and Answers - page 1

The historical development of accounting reveals that it?

In a trial balance, income and liabilities are?

The principle of double entry system ensures?

i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure

The correct procedure for balancing account is?

Given:

Light expenses...................N400
Purchases........................N3,000
Sales............................N1,200
Creditors........................N2,250
Debtors..........................N50

Calculate the total of the trial balance?

The major feature of a journal is that it has?

The medium of correcting errors whose differences are shown in the trial balance is by the use of?

Use the information below to answer question .

Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.

Find the total amount paid?

Use the information below to answer question .

Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.

Calculate the cash discount?

In bank reconciliation process, discrepancies cause by timing arises as a result of?