by Sunday | Dec 8 | Accounting JAMB
A. debit side of the purchases ledger control account B. debit side of the sales ledger control account C. credit side of the purchases ledger control account D. credit side of the sales ledger control account Correct Answer: Option D – credit side of the sales...
by Sunday | Dec 8 | Accounting JAMB
A. the profit and loss account and a credit to the provision for discount allowed B. provision for discount allowed and a credit to the profit and loss account C. discount allowed and a credit to the profit and loss account D. expenses and a credit to customers’...
by Sunday | Dec 8 | Accounting JAMB
Given: (i) Order of performance (ii) Order of liquidity (iii)Vertical order (iv) Horizontal order A. i and ii B. i and iv C. ii and iii D. iii and iv Correct Answer: Option C – ii and iii
by Sunday | Dec 8 | Accounting JAMB
Motor Vehicle Account as at 31st December 2001. Debit: Jan. 1, cost …………….N1950 000 Dec.31, Addition ………… N400 000 Credit: Jan. 1, Depreciation ……..N1360 000 June 30, Sales proceeds…… N700...
by Sunday | Dec 8 | Accounting JAMB
Motor Vehicle Account as at 31st December 2001. Debit: Jan. 1, cost …………….N1950 000 Dec.31, Addition ………… N400 000 Credit: Jan. 1, Depreciation ……..N1360 000 June 30, Sales proceeds…… N700...
by Sunday | Dec 8 | Accounting JAMB
Given: Capital ………..N1000 Liabilities……..N500 Assets………….N1500 A. N1000 + N500 + N1500 = N3000 B. N1000 – N500 + N1500 = N2000 C. N1000 + N500 = N1500 D. N1500 + N500 = N2000 Correct Answer: Option C –...