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

Question 41:

• JAMB 2012

Which of the following is a debit item in the sales ledger control account

A. Cheque reciepts
B. Dishonoured cheques
C. Discount allowed
D. Bills recievable

Question 42:

• JAMB 2013

The total cash and cheques received from customers in a control account is derived from the

A. Purchases day book
B. Cash book
C. Income and expenditure account
D. Sales journal

Question 43:

• JAMB 2014

The control account is used in facilitating

A. The location of errors in the various accounts
B. Up to date bank transactions
C. The payment of debts and liabilities of the firm
D. Assets distribution with respect to income

Question 44:

• JAMB 2014

The value of the sales ledger control account is derived from the summation of

A. The total debtors' account
B. The total creditors' account
C. All day books
D. Both the debtors'and creditors' accounts

Question 45:

• JAMB 2015

CR. DR.
Sales ledger balance 9, 500
Sales ledger balance 420
Bought ledgers balance 6, 115
Bought ledger balance 350
Credit sales 82, 000
Purchases journal 54, 700
Discount allowed 450
Discount received 200
Cash refunded to customers (debtors) 120
Purchases ledger balance 250
Sales ledger balance 120
The amount brought down in the sales ledger control account would be

A. N9, N1740; N120
B. N90, N990
C. N90, N870; N120
D. N80, N750