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

Question 166:

• JAMB 2018

The accounting entries used to record a cheque issued by a business is to?

A. Debit cash book and credit drawer
B. Credit cash book and debit drawer
C. Debit cash book and credit suspense account
D. Credit cash book and debit suspense account

Question 167:

• JAMB 2018

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

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

Question 168:

• JAMB 2018

The value of the current assets will be?

A. N10,361
B. N10,651
C. N17,396
D. N17,848

Question 169:

• JAMB 2018

Balance sheet (extract)

	N
Creditors	7,940
Prepaid expenses	290
Accrual expenses	323
Stock	4,500
Cash balances	4,956
Debtors	905

Use the information in the above table to answer the question.


Determine the current liabilities.

A. N8,553
B. N8,263
C. N7,940
D. N1,228

Question 170:

• JAMB 2018

	N
Purchase ledger opening balance	4,000
sales ledger opening balance	6,000
credit purchase	25,000
Discounts allowed	1,000
Returns inwards	2,000
Credit sales during the year	10,000
Return outwards	6,000

Use the information above to answer the following question;


calculate the sales ledger balance

A. N13,000
B. N10,000
C. N 6,000
D. N3,000