Jamb Accounts - Principles of Accounts 2018 Past Questions and Answers

Question 66:

• JAMB 2018

	N
Direct material	2,500
Direct labour	5,000
Direct expenses	1,000
Overhead expenses	1,500

use the information contained in the table to anwser the qustion below;


from the data above, compute the prime cost.

A. N6,500
B. N 8,500
C. N6,000
D. N7,500

Question 67:

• JAMB 2018

	N
Purchase ledger opening balance	4,000
sales ledger opening balance	6,000
credit purchase	25,000
Discounts allowed	1,000
Returns inwards	2,000
Credit sales during the year	10,000
Return outwards	6,000

Use the information above to answer the following question;


calculate the sales ledger balance

A. N13,000
B. N10,000
C. N 6,000
D. N3,000

Question 68:

• JAMB 2018

	N
Purchase ledger opening balance	4,000
sales ledger opening balance	6,000
credit purchase	25,000
Discounts allowed	1,000
Returns inwards	2,000
Credit sales during the year	10,000
Return outwards	6,000

Use the information above to answer the following question;


what is the purchase ledger balance?

A. N29,000
B. N24,000
C. N4,000
D. N23,000

Question 69:

• JAMB 2018

lubricating oil and spare parts of machines are example of?

A. Indirect expense
B. Direct expense
C. Indirect material
D. Direct material

Question 70:

• JAMB 2018

for an incomplete record to provide necessary information, it must be converted to?

A. Double entry
B. Single entry
C. Complete records
D. Statement of affairs