2013 - JAMB Accounting Past Questions and Answers - page 1
Accounting information seeks to provide
When the debit side total of an account, t means that the account has
July 1 - Started business with #10,500
July 31- Paid Agromachinex #6,000 owing
them<br />
The double entry for July 1 would be
July 1 - Started business with #10,500
July 31- Paid Agromachinex #6,000 owing
them<br />
The double entry for July 31 would be
The total credit sales for a period can be extracted from the
The major source document which enables an employer to calculate the employee wages is the
Which of the following items is a capital expenditure?
The corresponding entry of personal accounts found in the debit side of the cash is to
Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent. To record the discount in the book of Saka, debit
- The amount of the imprest is the same from one organization to another
11.At the end of a fixed period, the petty cashier received a fixed sum of money.
- At the end of a period, the petty cashier is reimbursed with the amount spent in that period.
1V. The system is a method by which a measure of control is kept on petty cash expenses.
Which of the above is correct about the imprest system?