Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 581:

• JAMB 2006

Head office sends goods to its branch at cost plus mark-up of of 25%. A debit of N40,000 to the branch stock account in the head office books will indicate that the head office has sent goods with a profit of

A. N4000
B. N6000
C. N10000
D. N8000

Question 582:

• JAMB 2006

Which of the following is a journal as well as a ledger?

A. Nominal ledger
B. Sales day book
C. General ledger
D. Cash book

Question 583:

• JAMB 2006

On Jan. 30 Khalifa withdraw N2500 from the bank for office use.
The cash balance at end of the month was

A. N1 600
B. N4 100
C. N 6 600
D. N6 100

Question 584:

• JAMB 2006

What was the bank balance at the end of the month?

A. N7 000
B. N6 500
C. N 7 500
D. N 9 000

Question 585:

• JAMB 2006

The value of Y is

A. N11 500
B. N 8 500
C. N13000
D. N10000