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

Question 36:

• JAMB 2014

Petty cash book records transactions on

A. The debit side only
B. The credit side only
C. Both credit and debit sides
D. Reversed entry

Question 37:

• JAMB 2014

1. Cash sales
11. Cash purchases
111. Cash discount allowed
1V. Cash payment
V. Cash receipts
Which of the following are recorded on the debit side of the cash book

A. 1 and 11
B. 1 and 111
C. 1 and V
D. 1 and 1V

Question 38:

• JAMB 2014

If goods were bought from Tanko at a cost price of #9,000 with a cash discount of 5%, how much will be paid assuming prompt payment was made?

A. #4,500
B. #8,550
C. #9,000
D. #9,450

Question 39:

• JAMB 2014

A book of account that possesses the features of both day book and ledger is

A. Sales day book
B. Cash book
C. Purchases day book
D. Returns day book

Question 40:

• JAMB 2015

The imprest of a petty cashier is N2450
Expenses on Printing 420
Cleaning 250
Stamp and postage 175
How much was received to maintain the imprest at the end of the month?

A. N1, 605
B. N875
C. N2, 450
D. N1, 300