Accounts Principles Of Accounts Past Questions and Answers

Question 3116 :

• JAMB 2020

The major feature of a journal is that it has

A. Five columns, date, particulars, folio, debit and credit
B. Three columns, date, particulars, folio and amount
C. Six columns, date. particulars, folio, amount debit and credit
D. Four columns, date, particulars, folio and amount

Question 3117 :

• JAMB 2020

In the head office ledger, the value of goods sent to the branch are

A. Debited to the branch current account
B. Debited to the head office current account
C. Credited to the head office current account
D. Credited to the branch current account

Question 3118 :

• JAMB 2020

Use the information below to answer this question
A machine bought for ₦35,000 was estimated to have a life span of 5 years with a scrap value of ₦9000.

The yearly depreciation using the straight-line method would be

A. ₦5200
B. ₦800
C. ₦6500
D. ₦4400

Question 3119 :

• JAMB 2020

Use the information below to answer this question
A machine bought for ₦35,000 was estimated to have a life span of 5 years with a scrap value of ₦9000.
If the scrap value is presently ₦15,000 what will be the yearly depreciation using straight-line method?

A. ₦7,000
B. ₦11,000
C. ₦4,000
D. ₦24,000

Question 3120 :

• JAMB 2020

Fiyinfoluwa Motors bought three Toyota Hilux vans on cash at the cost of ₦6,000,000 on debiting the vehicle account, the corresponding credit for the purchase will appear in the

A. Sales day book
B. Cash book
C. Sales subsidiary book
D. Purchase day book