Accounts - Principles of Accounts 2002 JAMB Past Questions

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The normal accounting entry to record the dishonor of a businessman is to?

A. debit cash book and credit suspense account
B. debit cash book and credit drawer
C. credit caah book and debit suspense account
D. credit cash book and debit drawer

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Use the information below to answer question . Statement of assets and liabilities as at 31st December, 2001. Shareholders' interest N240 Current liabilities N20 Current assets N110 Fixed assets N140

Determine the value of the trade investment?

A. N8m
B. N10m
C. N15m
D. N20m

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Use the information below to answer question .

Statement of assets and liabilities as at 31st December, 2001.

Shareholders' interest N240

Current liabilities N20

Current assets N110

Fixed assets N140
What is the networking capital?