Financing Business - Commerce Jamb Past Questions and Answers

Question 106 :

• 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 107 :

• 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 108 :

• 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.

	₦		₦
Opening stockPurchase	10007000	Sales	8000
Closing Stock	3000

Trading Expenses

ElectricitySalariesRentDepreciations

₦135875180210

From the figures given, calculate


Gross profit

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

Question 109 :

• 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.

	₦		₦
Opening stockPurchase	10007000	Sales	8000
Closing Stock	3000

Trading Expenses

ElectricitySalariesRentDepreciations

₦135875180210

From the figures given, calculate


Net profit

A. 1400
B. 5000
C. 1600
D. 6400

Question 110 :

• 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.

	₦		₦
Opening stockPurchase	10007000	Sales	8000
Closing Stock	3000

Trading Expenses

ElectricitySalariesRentDepreciations

₦135875180210

From the figures given, calculate


Percentage of net profit to turnover

A. 30%
B. 5%
C. 10%
D. 20%