Jamb Accounts - Principles of Accounts 2009 Past Questions and Answers

Question 31:

• JAMB 2009

Use the information to answer question below
......................... Departments
........................... P Q R
Sales value............... N23,400
Selling expenses.......... 1,100 N1,400 N1,280
Administrative expenses...N1,400 N1,000 N1,020
Cost of sales............. N6,900.... N6,700 N5,500
Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to N1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.
What is the sales value of department R?

A. N7,800
B. N11,700
C. N23,400
D. N35,100

Question 32:

• JAMB 2009

Use the information to answer questions
......................... Departments
........................... P Q R
Sales value............... N23,400
Selling expenses.......... 1,100 N1,400 N1,280
Administrative expenses...N1,400 N1,000 N1,020
Cost of sales............. N6,900.... N6,700 N5,500
Sales value of department Q doubles that of p, which is 1/3 of R. Depreciation which amounts to N1,800 is to be apportioned among the three departments in the ratio 3:5:7 respectively.
Determine the total expenses of department P?

A. 9,760
B. 9,400
C. 2,860
D. 2,500

Question 33:

• JAMB 2009

One of the purposes of maintaining the account of a branch at the head office is to?

A. Record charges in shareholdings
B. Record charges in liabilities
C. Check the excesses of customers
D. Check and monitor the growth of individual branches

Question 34:

• JAMB 2009

Which of the following is a common cause of a discrepancy between head office and branch trial balance?

A. Debtors and cash in transit
B. Creditors and cash in transit
C. Stock and cash in transit
D. Stock and prepayments

Question 35:

• JAMB 2009

Sule and Ahmad are in partnership sharing profits and losses equally. If Khadija is admitted as new partner to take \(\frac{1}{5}\) as her share, what is the new profit or loss sharing ratio?

A. Sule 1/3, Ahmad 1/3 and Khadija 1/3
B. Sule 1/5, Ahmad 15 and Khadija 3/5
C. Sule 2/5, Ahmad 2/5 and Khadija 1/5
D. Sule 2/5, Ahmad 1/5 and Khadija 2/5