Accounting JAMB - Page 39 of 151 - Erudites Academy

The balance on the provision for depreciation account is?

The balance on the provision for depreciation account is?

by Sunday | Dec 7 | Accounting JAMB

A. added to fixed assets on the balance sheet B. deducted from the fixed assets on the balance sheet C. deducted from the profit and loss account D. added to current liabilities of the account Correct Answer: Option B – deducted from the fixed assets on the...

The balance on the provision for depreciation account is?

Zakari’s personal drawings amounted to?

by Sunday | Dec 7 | Accounting JAMB

Zakari started a business in January 2000. He bought a shop costing N54,000 and stock worth N7,600. Profit for the year amounted to 22,100. His closing capital was N73,800. A. N2,300 B. N9,900 C. N17,100 D. N19,500 Correct Answer: Option A –...

The balance on the provision for depreciation account is?

The imprest account is subsidiary to the?

by Sunday | Dec 7 | Accounting JAMB

A. ledger account B. bank account C. cash book D. bank column Correct Answer: Option B – bank account

The balance on the provision for depreciation account is?

The receipt whose name appears on a cheque is called a?

by Sunday | Dec 7 | Accounting JAMB

A. payer B. drawer C. drawee D. payee Correct Answer: Option D – payee

The balance on the provision for depreciation account is?

A debit in the suspense accounting will appear in the balance sheet as?

by Sunday | Dec 7 | Accounting JAMB

A. a current asset B. a current liability C. capital D. drawings Correct Answer: Option A – a current asset

The rule of accounting equation requires that account payable should be placed under?

by Sunday | Dec 7 | Accounting JAMB

A. liabilities B. equities C. assets D. capital Correct Answer: Option A – liabilities

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