The ledger and its classifications - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 16:

• JAMB 2000

When a customer's cheque is returned unpaid in a debtor's control accounting system, the treatment will be?

A. Debit bank, credit custmer and credit conyrol account
B. Credit bank, debit customer, and credit control account
C. Debit customer, debit control accountand credit bank
D. Credit control account, debit bank and debit customer

Question 17:

• JAMB 2001

Use the information below to answer question .
Purchases ledger opening balances N4,000
Sales ledger opening balances N6,000
Credit purchases during the year N25,000
Discounts allowed N1,000
Returns inwards N2,000
Credit sales during the year N10,000
Returns outwards N6,000
Calculate the sales ledger balance?

A. N3,000
B. N6,000
C. N10,000
D. N13,000

Question 18:

• JAMB 2001

Use the information below to answer question . Purchases ledger opening balances N4,000 Sales ledger opening balances N6,000 Credit purchases during the year N25,000 Discounts allowed N1,000 Returns inwards N2,000 Credit sales during the year N10,000 Returns outwards N6,000
What is the purchases ledger balance?

A. N4,000
B. N23,000
C. N24,000
D. N29,000

Question 19:

• JAMB 2001

The correct entry to reflect the receipt of cash sent by a branch to a head office is?

A. Debit cash and credit branch current account
B. Debit branch, current account and credit cash
C. Credit branch, debtors and debit cash
D. Credit branch current account and debit branch debtors

Question 20:

• JAMB 2002

(i) Fixtures account (ii) Machinery account
(iii) Wages accounts (iv) Rent account.
Which of the above are nominal account?

A. Iii and iv
B. I and ii
C. I and iii
D. Ii and iii