Financing Business - Commerce Jamb Past Questions and Answers

Question 6 :

• JAMB 2019

Use the following information to answer this question.

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Current assets

A. 1600
B. 1060
C. 1500
D. 600

Question 7 :

• JAMB 2019

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate fixed assets

A. 6500
B. 2000
C. 4900
D. 600

Question 8 :

• JAMB 2019

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate current liabilities

A. 100
B. 6000
C. 600
D. 3000

Question 9 :

• JAMB 2019

Use the following information to answer this question.The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Current assets

A. 1600
B. 1060
C. 1500
D. 600

Question 10 :

• JAMB 2019

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

stockPurchase	1000	7000	Sales	8000
Closing Stock	3000

Trading Expenses[table the figures given, calculateGross profit

A. 300
B. 3000
C. 6000
D. 11000