Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 451:

• JAMB 2004

The balancing figure in the purchases ledger control account is?

A. N15,828
B. N15,720
C. N14,940
D. N14,694

Question 452:

• JAMB 2004

The balancing figure in the purchases ledger control account is?

A. N15,828
B. N15,720
C. N14,940
D. N14,694

Question 453:

• 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 454:

• 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 455:

• JAMB 2004

The beginning and ending accounts receivable balances were N20,000 and N30,000 respectively.
The collection from customers during the period was N70,000. What was the total sale on account?

A. N20,000
B. N60,000
C. N80,000
D. N120,000