Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 576:

• JAMB 2006

Determine the opening cash balance of the club?

A. N3 070
B. N2 220
C. N5 710
D. N4 320

Question 577:

• JAMB 2006

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.
What is the closing cash balance?

A. N35 000
B. N211 000
C. N5 000
D. N10 000

Question 578:

• JAMB 2006

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.
The subscriptions received would be

A. N200 000
B. N240 000
C. N300 000
D. N24 000

Question 579:

• JAMB 2006

LOAN IS 30% OF CREDITORS.
What is the capital balance?

A. N1000
B. N2 100
C. N900
D. N1200

Question 580:

• JAMB 2006

LOAN IS 30% OF CREDITORS.
A company has departments S,T and U. The sales are N20 000,20 000, N40 000 AND N60 000 respectively if the sales commission paid is N12 000, how much is T's share?

A. N8000
B. N2000
C. N4000
D. N6000