Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 681:

• JAMB 2008

Given that the balance as per cash book after adjustment was N6315, nu-presented cheques N1000 and the bank statement balance N3240. What was the balance of the nu-credited cheques?

A. N4075
B. N4240
C. N3315
D. N3075

Question 682:

• JAMB 2008

Use this information below to answer this question.
Trading Account (Extract)
.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
What is the gross profit?

A. N88 200
B. N76 800
C. N 19 200
D. N12 900

Question 683:

• JAMB 2008

Use this information below to answer this question.
Trading Account (Extract)
.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
Determine the closing stock

A. N76 800
B. N67 800
C. N14 100
D. N11 400

Question 684:

• JAMB 2008

Give:
1. Ascertainment of the particulars of the proposed company
II. Preparation of the incorporation documents
III. Filling of the documents
IV. Registration of the company
From the information above, the stages involved in the formation of a company are

A. I, II and III
B. I, II, III and IV
C. I,IIand IV
D. II, III and IV

Question 685:

• JAMB 2008

The debit ratio is approximately

A. 43%
B. 42%
C. 41%
D. 23%