by Sunday | Dec 9 | Accounting JAMB
Given: Authorized Capital: N 100,000 ordinary shares of N 1 cash Issued and fully paid: 50,000 ordinary shares of N 1 each 50,000 10, 000 8% preference shares of N 1 each Reserves 10,000 Creditors 25,000 Debtors 13 000 Cash in hand 5000 A. N 43,000 B. N 28,000 C....
by Sunday | Dec 9 | Accounting JAMB
Given: 31/12/98 31/12/99 Assets: Plant and Mach. N1,500 N1,200 Fixtures N700 N520 Stock N500 N600 Debtors N900 N400 Cash N200 N300 Liabilities: Creditor N500 N600 Loan N600 N400 A. N3,600 B. N 2,700 C. N2,070 D. N1,520 Correct Answer: Option B – N...
by Sunday | Dec 9 | Accounting JAMB
A. Accountant General B. Auditor General C. Finance Minister D. Permanent Secretary Correct Answer: Option B – Auditor General
by Sunday | Dec 9 | Accounting JAMB
A. debit cash and credit branch current account B. debit branch, current account and credit cash C. credit branch, debtors and debit cash D. credit branch current account and debit branch debtors Correct Answer: Option A – debit cash and credit branch current...
by Sunday | Dec 9 | Accounting JAMB
Department F transferred some goods to department G at a selling price. The goods were not sold at the end of the accounting period. Which account is affected at the time of preparing a combined balance sheet? A. creditors B. debtors C. stock D. suspense Correct...
by Sunday | Dec 9 | Accounting JAMB
X and Y are two departments that are to share 50% of all joint costs equally and the balance in ratio 2:1. If a sum of N150,000 is incurred jointly, what will be the portion attributable to X? A. N37,500 B. N62,500 C. N87,500 D. N100,000 Correct Answer: Option B...
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