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Accounts - Principles of Accounts 2002 JAMB Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1
Given:
Stock (1/4/94) N800

Purchases of flour N2450

Sales N4745

Wages of bakery staff N675

Carriage outwards N50

Salary of administrative staff N225

Stock (31/3/95) N940

Capital N1540
Determine the cost of goods sold?
  • A. N2575
  • B. N2985
  • C. N3250
  • D. N3925
View Answer & Discuss (2) JAMB 2002
2
In preparing the final accounts, the bad debt account is closed by a transfer to the?
  • A. balance sheet
  • B. provision for bad debt account
  • C. profit and loss account
  • D. trading account
View Answer & Discuss JAMB 2002
3

In a petty cash book the imprest is N1380.
Expenses:
Stationery N350
Cleaning material N335
General expenses N265

How much was received to maintain the imprest at the ends of the month?

  • A. N950
  • B. N970
  • C. N430
  • D. N380
View Answer & Discuss (2) JAMB 2002
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4
An entry in a subsidiary book which does not form part of the double entry system is a?
  • A. contra entry
  • B. journal entry
  • C. single entry
  • D. memorandum entry
View Answer & Discuss JAMB 2002
5
In an incomplete record, the preparation of the bank reconciliation ensures that?
  • A. all cash taking are banked
  • B. the cash book is correct
  • C. there are no overdrafts
  • D. there are no hidden loans
View Answer & Discuss (2) JAMB 2002
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts