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Accounts - Principles of Accounts 2024 JAMB Past Questions

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61

Ifedapo Local Council has the following details for 2008

  #
Fines 5000

Allocation from state government

 20000

Tenement rates

 10000

Licences

 12000

Hospital beds

 8000

Ambulance

 13000

Salaries

 15000

Vehicles fueling

 7000

The council's expenditure was

  • A. #28,000
  • B. #21,000
  • C. #20,000
  • D. #13,000
View Answer & Discuss JAMB 2024
62

Ifedapo Local Council has the following details for 2008

  #
Fines 5000

Allocation from state government

 20000

Tenement rates

 10000

Licences

 12000

Hospital beds

 8000

Ambulance

 13000

Salaries

 15000

Vehicles fueling

 7000

The council's expenditure for the year was

  • A. #43,000
  • B. #35,000
  • C. #30,000
  • D. #22,000
View Answer & Discuss JAMB 2024
63

Ifedapo Local Council has the following details for 2008

  #
Fines 5000

Allocation from state government

 20000

Tenement rates

 10000

Licences

 12000

Hospital beds

 8000

Ambulance

 13000

Salaries

 15000

Vehicles fueling

 7000

The Local Council's revenue for 2008 was

  • A. #47,000
  • B. #37,000
  • C. #42,000
  • D. #27,000
View Answer & Discuss JAMB 2024
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64

Purchase Ledger Control Account

  #   #

Cash paid to debtors

 15000 Balance c/d  5000

Bills payable

 3000 Purchase journal  30000

Discount receive

 2500

 

  

Return outward

 1500    

Sales ledger

 1200    

Balance c/d

 11800    
  35000   35000

The item sales ledger #1,200 represents

 

  • A. cash paid to supplier
  • B. amount due from suppliers
  • C. cash purchases
  • D. credit purchase
View Answer & Discuss JAMB 2024
65

Purchase Ledger Control Account

  #   #

Cash paid to debtors

 15000 Balance c/d  5000

Bills payable

 3000 Purchase journal  30000

Discount receive

 2500

 

  

Return outward

 1500    

Sales ledger

 1200    

Balance c/d

 11800    
  35000   35000

The amount #30,000 represents

  • A. cash purchases
  • B. cash paid to supplier
  • C. credit purchases
  • D. amount due from supplier
View Answer & Discuss JAMB 2024
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