Receipts and payments account - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 26:

• JAMB 2010

The equivalent of a club's receipts and payment account is the?

A. Trading account
B. Revenue account
C. Cash account
D. Suspense account

Question 27:

• JAMB 2010

The summary of receipts and payments account represent?

A. Cash at hand
B. Journal proper
C. General journal
D. Ledger accounts

Question 28:

• JAMB 2013

Which of the following is accounted for in receipts and payment account

A. Subscriptions recieved in advance
B. Subscriptions due not yet recieved
C. Accrued expenses on annual dances
D. Depreciation of the club house

Question 29:

• JAMB 2014

Social Club Subscription (Extract)
31/12/2009 Subscription accrued #18,900
Subscription received in advance #16,400
Subscription received during
the year 2009 #38,570
Determine the amount of subscription for the year

A. #57,470
B. #41,070
C. #40,210
D. #35,300

Question 30:

• JAMB 2014

Social Club Subscription (Extract)
31/12/2009 Subscription accrued #18,900
Subscription received in advance #16,400
Subscription received during
the year 2009 #38,570
What is the amount of subscription to be shown as liability in the balance sheet as at December 2009

A. #14,200
B. #16,400
C. #18,900
D. #20,500