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[ Post UTME Begins ]:
View The List Of Schools That Have Released 2026 Post-UTME Forms.
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Accounts - Principles of Accounts
Accounts - Principles of Accounts Past Questions
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1286
Use the information to answer the given question
\(\begin{array}{c|c} Dr & & & & & Cr \\ \hline & N & & & N & Cr \\ \hline \text{Jan 5 Hassan} & 3,080 & \text{Jan 1} & \text{Balance b/s} & 7,090 & \\ \text{Jan 24 malik} & 1,200 & \text{Jan 9} & \text{Dauda} & 1,400 & \\ \text{Jan 29 Rasaq} & 1,240 & \text{Jan 31} & \text{Hussein} & 630 & \\ \text{Jan 31 Lukman} & 1,060 & & & \\ \text{Jan. 31 Balance c/d} & 2,540 & & & \\ & \overline{9,120} & & & \overline{9,120} \\ & & \text{Feb 1} & \text{Balance b/d} & \overline{2,540} & \end{array}\)
Bank statement:
\(\begin{array}{c|c} & Dr & Cr & Balance \\ \hline & N & N & N \\ \hline \text{Jan 1 Balance b/d} & & & 7,090 O/D \\ \text{Jan 5 Hassan} & & 3,080 & 4,010 O/D \\ \text{Jan 9 Dauda} & 1,400 & & 5,410 O/D \\ \text{Jan 24 malik} & & 1,200 & 4,210 O/D \\ \text{Jan 29 Rasaq} & & 1,240 & 2,970 O/D \\ \text{Jan 30 Standing order} & 770 & & 3,740 O/D \\ \text{Jan 31 Bank charges} & 490 & & 4,230 O/D \end{array}\)
Unpresented cheque(s) totalled
Adjusted Cash Book balance is
A.
N3,800 O/D
B.
N3,310 O/D
C.
N3,030 O/D
D.
N2,540 O/D
View Answer & Discuss
WAEC 2005
1287
A debit balance of N1,000 in cash account means that
A.
cash in hand is N1,000
B.
cash has been overspent by N1,000
C.
total cash paid out is N1,000
D.
total cash received was less by N1,000
View Answer & Discuss
WAEC 2005
1288
The maximum level of cash held by by a cashier under an imprest system is a/an
A.
vote
B.
float
C.
reimburstment
D.
advance
View Answer & Discuss
WAEC 2005
1289
The total of the sales journal is entered on the
A.
debit side of sales account
B.
debit side of cash account
C.
credit side of sales account
D.
credit side of cash account
View Answer & Discuss
WAEC 2005
1290
Gross profit is calculated in the
A.
trading account
B.
profit and loss account
C.
appropriation account
D.
partners current account
View Answer & Discuss
WAEC 2005
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