Jamb Accounts - Principles of Accounts 2009 Past Questions and Answers

Question 11:

• JAMB 2009

Use the information below to answer the following questions

Period 1	N
Cash to petty cashier	1000
Petty cashier pays out	780
Period 2
Petty cashier pays out	840

What is the balance of cash with the petty cashier at the end of period 1?

A. 220
B. 780
C. 980
D. 1780

Question 12:

• JAMB 2009

Cash discount is often recorded on?

A. The debit side of the cash book
B. The credit side of the cash book
C. The folio column of the cash book
D. Both credit and debit side of the cash book

Question 13:

• JAMB 2009

The standing order is a payment instruction given by a?

A. Customer to the bank
B. Bank to the customer
C. Bank to an employee
D. Customer to a fellow customer

Question 14:

• JAMB 2009

Which of the should not be added or subtracted from the bank statement balance to determine the adjust cash balance?

A. Error by the bank
B. Undercasting of the cash book
C. Overcasting of the cash book
D. Bank service charges

Question 15:

• JAMB 2009

Given:
Balance as per cash book...................N20,000
Unpresented cheques........................N5, 200
Direct credit to the bank..................N1, 000
Direct debit from the bank.................N1, 000
Credit in the cash book....................N500
Calculate the balance as per bank statement at the end of the year?

A. N24,700
B. N25,200
C. N26,200
D. N27,700