Jamb Accounts - Principles of Accounts 2004 Past Questions and Answers

Question 6:

• JAMB 2004

A debit in the suspense accounting will appear in the balance sheet as?

A. A current asset
B. A current lability
C. Capital
D. Drawings

Question 7:

• JAMB 2004

The receipt whose name appears on a cheque is called a?

A. Payer
B. Drawer
C. Drawee
D. Payee

Question 8:

• JAMB 2004

The imprest account is subsidiary to the?

A. Ledger account
B. Bank account
C. Cash book
D. Bank column

Question 9:

• JAMB 2004

Zakari started a business in January 2000. He bought a shop costing N54,000 and stock worth N7,600. Profit for the year amounted to 22,100. His closing capital was N73,800.
Zakari's personal drawings amounted to?

A. N2,300
B. N9,900
C. N17,100
D. N19,500

Question 10:

• JAMB 2004

The balance on the provision for depreciation account is?

A. Added to fixed assets on the balance sheet
B. Deducted from the fixed assets on the balance sheet
C. Deducted from the profitand loss account
D. Added to current liabilities of the account