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Accounts Principles Of Accounts 2010 Jamb Past Questions and Answers

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Accounts Principles Of Accounts 2010 Jamb Past Questions


Question 21 :



Determine the total expenses to be charged to profit and loss account?

A. N2 350
B. N1 600
C. N800
D. N3 150
E. NO OPTION


Question 22 :



Use the information below to answer questions 25 and 26.
........................31/12/08...........31/12/09
Furniture and fittings..N21 000,............N28 000
Office equipment........N9 800,.............N13 200
Debtors.................N6 800,.............N5 200
Creditors...............N4 900,.............N5 100
Cash at bank............N7 000,.............N4 600
Accrued electricity bills...................N1 200
Monthly drawings average N330.
Find the opening capital?

A. N39 700
B. N35 900
C. N35 740
D. N43 660


Question 23 :



Use the information below to answer questions
........................31/12/08...........31/12/09
Furniture and fittings..N21 000,............N28 000
Office equipment........N9 800,.............N13 200
Debtors.................N6 800,.............N5 200
Creditors...............N4 900,.............N5 100
Cash at bank............N7 000,.............N4 600
Accrued electricity bills...................N1 200
Monthly drawings average N330.
Determine the net profit ?

A. N5 000
B. N3 960
C. N1 040
D. N8 960


Question 24 :



The gross loss on manufacturing is always transferred to the?

A. Credit side of balance sheet
B. Debit side of profit and loss account
C. Credit side of profit and loss account
D. Debit side of balance sheet


Question 25 :



The depreciation on a motor vehicle that is being used for manufacturing and administration is charged to the?

A. Debit side of manufacturing and profit and loss account
B. Debit side of profit and loss account only
C. Credit side of profit and loss account only
D. Debit side of manufacturing and balance sheet






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