Jamb Accounts - Principles of Accounts 2008 Past Questions and Answers

Question 26:

• JAMB 2008

The floor space occupied by manufacturing and administration departments in a company is 200 sqm and 300 sqm respectively. N20 000 rent incurred is shared using floor space occupied. How much is the rent chargeable to manufacturing?

A. N8 000
B. N10 000
C. N12 000
D. N18 000

Question 27:

• JAMB 2008

Use the information below to answer questions .
Stock of material 1/1..............N10 000
Purchase of raw material...........N160 000
Manufacturing wages................N420 000
Royalties..........................N3 000
Stock of raw materials 31/12.......N14 000
What is the cost of raw materials consumed?

A. N173 000
B. N170 000
C. N160 000
D. N156 000

Question 28:

• JAMB 2008

Use the information below to answer questions .
Stock of material 1/1..............N10 000
Purchase of raw material...........N160 000
Manufacturing wages................N420 000
Royalties..........................N3 000
Stock of raw materials 31/12.......N14 000
Calculate the prime cost?

A. N597000
B. N579000
C. N576000
D. N5967000

Question 29:

• JAMB 2008

Receipt and payment account discloses?

A. Debtors
B. Creditors
C. Prepayment
D. Depreciation

Question 30:

• JAMB 2008

Given:
Subscription in arrears 01/10/06...........N2 000
Subscription in advance 01/10/06...........N1 500
Subscription paid during the year..........N7 000
Subscription in arrears 31/12/06...........N3 000
Determine the amount of subscription included in the income and expenditure account for the year?

A. N3500
B. N7000
C. N9500
D. N13 500