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

Question 26:

• JAMB 2009

Use the information above to answer question
Period 1:
........Cash to petty cashier.............N1000
........Petty cashier pays out............N780
Period 2:
........Petty cashier pays out............N840
If the float is increased to N1200, how much should the petty cashier receive after period 2?

A. 160
B. 840
C. 1000
D. 1040

Question 27:

• JAMB 2009

Use the information below to answer the following questions

Period 1	N
Cash to petty cashier	1000
Petty cashier pays out	780
Period 2
Petty cashier pays out	840

What is the balance of cash with the petty cashier at the end of period 1?

A. 220
B. 780
C. 980
D. 1780

Question 28:

• JAMB 2009

Cash discount is often recorded on?

A. The debit side of the cash book
B. The credit side of the cash book
C. The folio column of the cash book
D. Both credit and debit side of the cash book

Question 29:

• JAMB 2011

Use the information below to answer question .
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Find the total amount paid?

A. N260
B. N300
C. N200
D. N380

Question 30:

• JAMB 2011

Use the information below to answer question .
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Calculate the cash discount?

A. N60
B. N90
C. N40
D. N100