Cashbook - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 11:

• JAMB 2001

In a petty cash book, the closing balance was N235, imprest N1,250, while the stationery expenses were N655. How much was paid for other general expenses?

A. N360
B. N355
C. N350
D. N305

Question 12:

• JAMB 2001

A reduction in the catalogue price of an article given by a wholesaler to a retailer is called a?

A. Bad debt
B. Trade discount
C. Premium
D. Cash discount

Question 13:

• JAMB 2002

In a petty cash book the imprest is N1380.
Expenses:
Stationery N350
Cleaning material N335
General expenses N265
How much was received to maintain the imprest at the ends of the month?

A. N950
B. N970
C. N430
D. N380

Question 14:

• JAMB 2004

The imprest account is subsidiary to the?

A. Ledger account
B. Bank account
C. Cash book
D. Bank column

Question 15:

• JAMB 2005

five hundred naria monthly is allowed on an imprest system. The following transactions took place.
Period1:
Cash advanced to petty cashier......N500
Petty cashier paid out: stamp.......N200
Newspaper...........................N250
Period 2:
Cash to petty cashier...............N450
Cashier paid for writing materials..N350
How much should the petty cashier receive after period 2?

A. N150
B. N250
C. N350
D. N500