Accounts - Principles of Accounts 2008 JAMB Past Questions

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Bariga, a stock broker bought stationery for N 12000 by cash. To record this transaction, debit?

A. cash and credit stationery
B. purchase and credit stationery
C. stationery and credit cash
D. stationery and credit purchases

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Use the information below to answer questions .

(i) Cash at bank (ii) Cash in hand (iii) Premises
(iv) Land (v)Creditors (vi)loan from friends/bank.

Determine the fixed assets?

A. i and v
B. ii and iv
C. ii and vi
D. iii and iv

View Answer & Discuss JAMB 2008

Use the information below to answer questions .

(i) Cash at bank (ii) Cash in hand (iii) Premises
(iv) Land (v)Creditors (vi)loan from friends/bank.
What are the current assets?

A. i and ii
B. i and v
C. ii and iv
D. iii and v

View Answer & Discuss JAMB 2008

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Given:

................Cash Book........................

Capital..........N6 500........purchases.....N12 250
Sales............N30 000........Rent..........N9 100
................................Motor vehicle.N2 400

Find the bank balance?