Jamb Accounts - Principles of Accounts 2011 Past Questions and Answers

Question 6:

• JAMB 2011

Given:
Light expenses...................N400
Purchases........................N3,000
Sales............................N1,200
Creditors........................N2,250
Debtors..........................N50
Calculate the total of the trial balance?

A. N4,250
B. N3,500
C. N4,300
D. N3,450

Question 7:

• JAMB 2011

The major feature of a journal is that it has?

A. Six columns, date, particulars, folio, amount, debit and credit
B. Five columns, date particulars, folio, debit and credit
C. Three columns, date particulars and folio
D. Four columns, date particulars, folio and amount

Question 8:

• JAMB 2011

The medium of correcting errors whose differences are shown in the trial balance is by the use of?

A. Debtors' account
B. Creditor's account
C. Suspense account
D. Ledger account

Question 9:

• JAMB 2011

Use the information below to answer question .
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Find the total amount paid?

A. N260
B. N300
C. N200
D. N380

Question 10:

• JAMB 2011

Use the information below to answer question .
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Calculate the cash discount?

A. N60
B. N90
C. N40
D. N100