Control Accounts and Self-balancing Ledgers - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 21:

• JAMB 2004

Use the information below to answer questions 17 and 18.
Opening balance.............................N10,640
Purchases...................................N26,912
Returns inwards.............................N492
Returns outwards............................N810
Cash discount received......................N1,348
Cash discount allowed.......................N1,560
Cash paid to suppliers......................N20,808
At the year end, the purchases ledger showed a debit balance of N108.
The total on the debit side of the purchases ledger control account will be?

A. N22,966
B. N22,156
C. N21,834
D. N21054

Question 22:

• JAMB 2004

In a sales ledger, contra entry is found on the?

A. Debit side of the debtors' control account
B. Debit side of the crebtors' control account
C. Creadit side of the debtors' control account
D. Creadit side of the credtors' control account

Question 23:

• JAMB 2005

The item that are contained in the bought ledger control account are?

A. Discount allowed, bad debts and purchases
B. Dishonoured cheques, returns inwards and sales
C. Returns outwards, bad debts outewards and sales
D. Discount received, returns outwards and purchases

Question 24:

• JAMB 2005

Given:
purchases ledger balance..............N4000
purchases for the period..............N50000
Cash refunded by suppliers............N290
Cheques paid to suppliers..............N42300
Returns outwards.......................N2000
Discount received from suppliers.......N400
The balance of the purchases ledger control account is?

A. N10390
B. N9990
C. N9590
D. N9010

Question 25:

• JAMB 2005

Which of the following item is found on the credit side of the sales ledger control account?

A. Discount received
B. Dishonoured cheques
C. Credit sals
D. Bills receivable