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Accounts - Principles of Accounts Past Questions

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2271
The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.

What is the closing cash balance?
  • A. N35 000
  • B. N211 000
  • C. N5 000
  • D. N10 000
View Answer & Discuss (1) JAMB 2006
2272
The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.

The subscriptions received would be
  • A. N200 000
  • B. N240 000
  • C. N300 000
  • D. N24 000
View Answer & Discuss JAMB 2006
2273
LOAN IS 30% OF CREDITORS.

What is the capital balance?
  • A. N1000
  • B. N2 100
  • C. N900
  • D. N1200
View Answer & Discuss JAMB 2006
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2274
LOAN IS 30% OF CREDITORS.

A company has departments S,T and U. The sales are N20 000,20 000, N40 000 AND N60 000 respectively if the sales commission paid is N12 000, how much is T's share?
  • A. N8000
  • B. N2000
  • C. N4000
  • D. N6000
View Answer & Discuss JAMB 2006
2275
Head office sends goods to its branch at cost plus mark-up of of 25%. A debit of N40,000 to the branch stock account in the head office books will indicate that the head office has sent goods with a profit of
  • A. N4000
  • B. N6000
  • C. N10000
  • D. N8000
View Answer & Discuss JAMB 2006
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