by Sunday | Dec 10 | Accounting JAMB
A. purchases B. opening stock C. closing stock D. average stock Correct Answer: Option B – opening stock
by Sunday | Dec 10 | Accounting JAMB
Yola Social Club Statement of Account 1998 financial year 31/12/98: Subscription in arrears N21,000 Subscription in advance N12,000 Receipt during 1999: Arrears 1998 N21,000 Dues 1999 N48,000 Advance 2000 N11,000 A. N48,000 B. N59,000 C. N60,000 D. N69,000 Correct...
by Sunday | Dec 10 | Accounting JAMB
Given: Depreciation of plant and machinery N1,600 Factory rent N650 Indirect wages N695 General indirect expenses N726 lubricants N1235 Carriage inwards N829 Factory power N350 Bank charges N612 Carriage outwards N2,900 A. N4,485 B. N5,256 C. N6,085 D. N6,556 Correct...
by Sunday | Dec 10 | Accounting JAMB
Given: cash book item: Paid to suppliers N10,800 Expenses paid N6,900 Drawings made N900 Balances at start N15,750 Balances at end N3,870 Drawings from bank to shop N1,720 A. N22,470 B. N17,470 C. N8,440 D. N5,000 Correct Answer: Option D –...
by Sunday | Dec 10 | Accounting JAMB
A. purchase consideration equals goodwill B. purchase consideration equals net value C. purchase consideration is greater than the net value D. net assets is greater than the liabilitties Correct Answer: Option B – purchase consideration equals net...
by Sunday | Dec 10 | Accounting JAMB
Rakiya and Joy are in partnership and agreed that 5% interest per annul is to be charged on drawings. The drawing made by both partners in one year were: Rakiya, N200 on March 31 and N300 on September 30. Joy, N100 on April 1 and N240 on July 1. A. N340,000 credit B....
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