Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 131:

• JAMB 1997

A company has 5% debentures worth N500 000 ordinary share capital N 2 000 000, and preference shares N1500 000. if the company made a profit of N 1 000 000, the debenture interest would amount to

A. N 1 000 000
B. N 500 000
C. N 50 000
D. N 25 000

Question 132:

• JAMB 1997

A dividend of 10% in a company on 500 000 ordinary shares of N 1 nominal value has been declared, How much will a shareholder receive if he has 200 shares?

A. N 500 000
B. N 50 000
C. N200
D. N 20

Question 133:

• JAMB 1997

What is the working capital?

A. N12 000
B. N 11 000
C. N 8 000
D. N4 000

Question 134:

• JAMB 1997

The acid test ratio in the company is

A. 1:1
B. 1:2
C. 2:3
D. 3:2

Question 135:

• JAMB 1997

If goods are invoiced to the branch at cost and the invoice par value is N 2 000 with 5%discount rate, can remitted to the head office is

A. N2 100
B. N 200
C. N 1 900
D. N 100