Introduction to Company Accounts - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 76:

• JAMB 2008

Ordinary shareholders received dividend before?

A. Creditors
B. Debtors
C. Preference shareholders
D. Deferred shareholders

Question 77:

• 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 78:

• 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 79:

• 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 80:

• JAMB 2008

The debit ratio is approximately

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