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Accounts - Principles of Accounts 2019 JAMB Past Questions

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56

Use the information to answer this question

Payment to creditors ₦12,250
Creditors at start ₦550
Creditors at end ₦830

What us the amount of purchase

  • A. ₦11,970
  • B. ₦11,000
  • C. ₦1,250
  • D. ₦12,053
View Answer & Discuss (3) JAMB 2019
57

Use the information to answer this question

Payment to creditors ₦12,250
Creditors at start ₦550
Creditors at end ₦830

What is the creditors amount in the balance sheet?

  • A. ₦550
  • B. ₦12,250
  • C. ₦12,530
  • D. ₦830
View Answer & Discuss (3) JAMB 2019
58

In the preparation of statement of profit, if the opening capital is greater than closing capital, there will be

  • A. profit
  • B. capital
  • C. loss
  • D. cash
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59

The manufacturing account is prepared to ascertain

  • A. cost of goods sold
  • B. cost of production
  • C. Gross profit
  • D. Finished goods
View Answer & Discuss JAMB 2019
60

Which of the following is not charged to the manufacturing account?

  • A. Direct expenses
  • B. Factory wages
  • C. Distribution expenses
  • D. Raw materials
View Answer & Discuss JAMB 2019
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