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

Question 131:

• JAMB 2013

Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent. To record the discount in the book of Saka, debit


A. Discount recieved account and credit Alaka's account
B. Alaka's account and credit discount recieved account
C. Saka's account and credit discount recieved account
D. Discount allowed account and credit Alaka's account

Question 132:

• JAMB 2013

The purchase of mattresses from Freehold enterprises by cheque amounted to #305,150. The correct entries for this transaction in the book of the buyer is to debit


A. Sales account and credit bank account
B. Purchases and credit bank account
C. Cash and credit freehold
D. Bank and credit freehold

Question 133:

• JAMB 2014

A cheque of #5,000 paid to Sulieman had been correctly entered in the cash book but had not been entered in Sulieman's account. To correct this error, debit Sulieman's account and credit

A. Cash account
B. Bank account
C. Suspense account
D. Purchases account

Question 134:

• JAMB 2014

Aduke Motors bought three Toyota Hilux vans on cash at the cost of #6,000,000, on debiting the vehicle account, the corresponding credit for the purchase will appear in the

A. Sales day book
B. Purchases day book
C. Sales subsidiary book
D. Cash book

Question 135:

• JAMB 2014

Which of the following affects the accuracy and authenticity of the trial balance?

A. Error of ommission
B. Error of commission
C. Error of transposition
D. Error of original entry