Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 586:

• JAMB 2006

X represents

A. Bank charges
B. An unpresented cheque
C. Dividends
D. An uncredited cheque

Question 587:

• JAMB 2006

Assuming the closing stock was valued at N19 000 at the end of November, what was the gross profit?

A. N30 000
B. N50 000
C. N70 000
D. N100 000

Question 588:

• JAMB 2007

A company has departments X, Y and Z. Department X occupies a space of Y while Z occupies half the space of Y. If the company pays N70 000 on rent, what is the amount of rent that should be allocated to Y?

A. N30 000
B. N40 000
C. N20 000
D. N10 000

Question 589:

• JAMB 2007

A company has departments X, Y and Z. Department X occupies a space of Y while Z occupies half the space of Y. If the company pays N70 000 on rent, what is the amount of rent that should be allocated to Y?

A. N30 000
B. N40 000
C. N20 000
D. N10 000

Question 590:

• JAMB 2007

Use the information below to answer questions.
Entrance fees.........................N1200
Subscriptions(including N850 arrears).N4310
Donations received....................N1500
Proceeds from sales...................N2300
Total payments........................N8200
Depreciation..........................N2100
Closing cash balance..................N1110
The club deposited 200% of the closing cash balance in he bank during the period.
Calculate the total figure for the receipt and payments account?

A. N11 410
B. N13 630
C. N9 310
D. N11 530