Accounts Principles Of Accounts 2007 Jamb Past Questions and Answers

Question 31 :

• JAMB 2007

Use the information below to answer question
Debtors.................................N20
Provision for bad debts..................10%
Provision for discount on debtors........5%
Determine the amount provided for discount allowed on debtors?

A. N1000
B. N3000
C. N900
D. N1500

Question 32 :

• JAMB 2007

Use the information below to answer question .
Debtors.................................N20
Provision for bad debts..................10%
Provision for discount on debtors........5%
The provision for bad debt is?

A. N2000
B. N800
C. N3000
D. N1900

Question 33 :

• JAMB 2007

The purchases ledger control account showed a credit balance of N525 000 on April 30, 2006.
This amount shows?

A. What the debtor of a business enterprise owed the business
B. The total amount which each debtor owed the business
C. What a business enterprise owed its creditors
D. The amount whicih a business enterprise owed creditor

Question 34 :

• JAMB 2007

Given:
Prepaid b/f.......................N10 000
Cash paid during the year.........N20 000
The amount to be charged to the profit and loss account is?

A. N30 000
B. N25 000
C. N5 000
D. 20 000

Question 35 :

• JAMB 2007

Use the information below to answer question
Net loss.......................N2300
Capital........................N10500
Liabilities....................N7200
Find the value of the total assets?

A. N17 700
B. N10 500
C. N20 000
D. N15 400