Principles of Double Entry - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 91:

• JAMB 2007

Given:
Bank overdraft..............N2000
Cash........................N2000
Furniture...................N4000
Calculate the total amount on the credit side of the trial balance?

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

Question 92:

• JAMB 2008

One basic assumption of the double entry theory is that it allows?

A. Two credit entries at the same time
B. Two debit entries at the same time
C. Debit and credit two credit entries at the same time
D. Debit and credit two credit entries in corresponding account

Question 93:

• JAMB 2008

Given:
Sales.....................N4000
Light expenses............N2900
Rent......................N1500
Purchases.................N7500
Debtors...................N6000
Creditors.................N29000
Drawings..................N25
Bank......................N400
General expenses..........N1500
Calculate the total of trial balance?

A. N64 300
B. N46 825
C. N41 850
D. N33 325

Question 94:

• JAMB 2008

Bariga, a stock broker bought stationery for N 12000 by cash. To record this transaction, debit?

A. Cash and credit stationery
B. Purchase and credit stationery
C. Stationery and credit cash
D. Stationery and credit purchases

Question 95:

• JAMB 2008

Use the information below to answer question .
Capital.......N12 700........Purchases......N7 100
Debtors.......N4 000........Stationery.....N1 900
Sales.........N2 400........Wages..........N1 230
The owners wishes to maintain an account equal to of capital as drawings.
What is the amount withdrawn?

A. N9525
B. N9000
C. N7100
D. N6400