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Accounts - Principles of Accounts Past Questions

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2286
Use the information below to answer questions.

Entrance fees.........................N1200
Subscriptions(including N850 arrears).N4310
Donations received....................N1500
Proceeds from sales...................N2300
Total payments........................N8200
Depreciation..........................N2100
Closing cash balance..................N1110

The club deposited 200% of the closing cash balance in he bank during the period.

Determine the opening cash balance of the
  • A. N3070
  • B. N2220
  • C. N5710
  • D. N4320
View Answer & Discuss JAMB 2007
2287
Given that the balance as per cash book after adjustment was N6315, nu-presented cheques N1000 and the bank statement balance N3240. What was the balance of the nu-credited cheques?
  • A. N4075
  • B. N4240
  • C. N3315
  • D. N3075
View Answer & Discuss JAMB 2008
2288
Use this information below to answer this question.

Trading Account (Extract)

.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%

What is the gross profit?
  • A. N88 200
  • B. N76 800
  • C. N 19 200
  • D. N12 900
View Answer & Discuss JAMB 2008
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2289
Use this information below to answer this question.

Trading Account (Extract)

.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
Determine the closing stock
  • A. N76 800
  • B. N67 800
  • C. N14 100
  • D. N11 400
View Answer & Discuss (3) JAMB 2008
2290
Give:
1. Ascertainment of the particulars of the proposed company
II. Preparation of the incorporation documents
III. Filling of the documents
IV. Registration of the company
From the information above, the stages involved in the formation of a company are
  • A. I, II and III
  • B. I, II, III and IV
  • C. I,IIand IV
  • D. II, III and IV
View Answer & Discuss JAMB 2008
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