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Accounts - Principles of Accounts 2025 JAMB Past Questions

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51

Production cost is 

  • A. #56,300
  • B. #53,000
  • C. #55,800
  • D. #57,300
View Answer & Discuss JAMB 2025
52

Use the following information to answer questions 52 to 54
Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000. 

The following transactions took place for a particular month:

Dec 1 petty cash in hand 517
1 petty cash to imprest 3,483
6 Bought notebooks 328
7 Paid wages 914
14 Bought postage stamps 375
16 Paid to J. Thomas, a creditor 536

21 Paid wages 928
23 Bought envelopes 437
27 Bought postage stamps 210

Amount to be reimbursed at the end of the month is

  • A. #4,000
  • B. #3,728
  • C. #1,842
  • D. #3,483
View Answer & Discuss JAMB 2025
53

Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000. 

The following transactions took place for a particular month:

Dec 1 petty cash in hand 517
1 petty cash to imprest 3,483
6 Bought notebooks 328
7 Paid wages 914
14 Bought postage stamps 375
16 Paid to J. Thomas, a creditor 536

21 Paid wages 928
23 Bought envelopes 437
27 Bought postage stamps 210

Amount spent on stationery is

  • A. #585
  • B. #437
  • C. #538
  • D. #765
View Answer & Discuss JAMB 2025
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
54

Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000. 

The following transactions took place for a particular month:

Dec 1 petty cash in hand 517
1 petty cash to imprest 3,483
6 Bought notebooks 328
7 Paid wages 914
14 Bought postage stamps 375
16 Paid to J. Thomas, a creditor 536

21 Paid wages 928
23 Bought envelopes 437
27 Bought postage stamps 210

Amount to be posted to the personal ledger is 

  • A. #765
  • B. #536
  • C. #517
  • D. #585
View Answer & Discuss (1) JAMB 2025
55

The class of share to which payment of dividend depends on profit is

  • A. preference shares
  • B. bonus shares
  • C. forfeited shares
  • D. ordinary shares
View Answer & Discuss JAMB 2025
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