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

Question 16:

• 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
What was the balance of cash with the petty cashier ata the end of period 1?

A. N50
B. N200
C. N300
D. N450

Question 17:

• JAMB 2005

In a three-column cash book,the discount allowed is shown on the?

A. Debit side
B. Credit side
C. Folio column
D. Memorandum column

Question 18:

• JAMB 2005

In a three-column cash book,the discount allowed is shown on the?

A. Debit side
B. Credit side
C. Folio column
D. Memorandum column

Question 19:

• JAMB 2006

The use of a three-column cash book is determine by?

A. Cash discounts
B. Trade discounts
C. Cash transactions
D. Bank transactions

Question 20:

• JAMB 2006

On Jan. 30 Khalifa withdraw N2500 from the bank for office use.
The cash balance at end of the month was

A. N1 600
B. N4 100
C. N 6 600
D. N6 100