Jamb Accounts - Principles of Accounts 2016 Past Questions and Answers

Question 1:

• JAMB 2016

Balance as per cashbook 2, 970
Bank Charges 220
Unpresented cheques 3, 950
Uncredited cheques 4, 178
Direct debit by bank 1, 0000
Determine the balance as per bank statement.

A. # 1,978
B. # 1962
C. # 1,522
D. # 2,522

Question 2:

• JAMB 2016

Balance as per cashbook 2, 970
Bank Charges 220
Unpresented cheques 3, 950
Uncredited cheques 4, 178
Direct debit by bank 1, 0000
Determine the balance as per bank statement.

A. # 1,978
B. # 1962
C. # 1,522
D. # 2,522

Question 3:

• JAMB 2016

The records of Superstores shows a loan of #14,000 from Bala,creditor #8,000 and assets #190,500. What is the firm's capital?

A. #184, 000
B. #196,500
C. #212,000
D. #168,500

Question 4:

• JAMB 2016

The major advantage of the journal proper is that it

A. Helps in the preparation of the balance sheet
B. Prevents fraud and theft of item of the business
C. Serves as a book of instruction to the bookkeeper
D. Help the banking industry to be efficient

Question 5:

• JAMB 2016

Departments K Y
Opening 2,500 800
Purchases 120,000 100,000
Sales 180,000 200,000
Salary 8,000 30,000
Closing stock 3,000 1,500
Rate expenses of 1,500 are apportioned in the ratio 1:2
The gross profit for K is

A. # 60,700
B. #23,500
C. #60,500
D. #82,500