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Accounts - Principles of Accounts Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
506
Use the information below to answer question

Debtors.................................N20
Provision for bad debts..................10%
Provision for discount on debtors........5%

Determine the amount provided for discount allowed on debtors?
  • A. N1000
  • B. N3000
  • C. N900
  • D. N1500
View Answer & Discuss (1) JAMB 2007
507
Use the information below to answer question .

Debtors.................................N20
Provision for bad debts..................10%
Provision for discount on debtors........5%

The provision for bad debt is?
  • A. N2000
  • B. N800
  • C. N3000
  • D. N1900
View Answer & Discuss JAMB 2007
508
The purchases ledger control account showed a credit balance of N525 000 on April 30, 2006.
This amount shows?
  • A. what the debtor of a business enterprise owed the business
  • B. the total amount which each debtor owed the business
  • C. what a business enterprise owed its creditors
  • D. the amount whicih a business enterprise owed creditor
View Answer & Discuss JAMB 2007
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509
Given:

Prepaid b/f.......................N10 000
Cash paid during the year.........N20 000

The amount to be charged to the profit and loss account is?
  • A. N30 000
  • B. N25 000
  • C. N5 000
  • D. 20 000
View Answer & Discuss JAMB 2007
510
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Net loss.......................N2300
Capital........................N10500
Liabilities....................N7200

Find the value of the total assets?
  • A. N17 700
  • B. N10 500
  • C. N20 000
  • D. N15 400
View Answer & Discuss JAMB 2007
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Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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