by Sunday | Dec 9 | Accounting JAMB
Given: Sales Ledger Control Account (Extracts) Balance b/f N10,600 Total cash payments by debtors N32,275 Total credit sales N59,193 Discount received N9,700 Balance c/f N20,751 Discount allowed N2,890 A. N24,577 B. N13,877 C. N7,067 D. N2,890 Correct Answer: Option B...
by Sunday | Dec 9 | Accounting JAMB
A. purchases B. sales C. cost of goods sold D. cost of materials used Correct Answer: Option A – purchases
by Sunday | Dec 9 | Accounting JAMB
A. an asset account and a credit to the expenses account B. the expenses account and a credit to an asset account C. profit and loss account and a creit to the expenses account D. the expenses account and a credit to profit and loss account Correct Answer: Option C...
by Sunday | Dec 9 | Accounting JAMB
A. posting disscount allowed to the debit side of the discount allowed account B. omision of one account from the list when extracting from the ledger C. failure to post sales of N2,000 and purchases of N2,000 from the subsidiiary ledger D. omission of sales of N3,000...
by Sunday | Dec 9 | Accounting JAMB
Given: PTF Trial Balance [Extract] as at 31 December, 1999 Dr Cr N’000 N ‘000 Cash 2,000 Investments 3,000 Accounts receivable 6,000 11,000 Fund balance 11,000 11,000 A. N8m B. N 11M C. N12M D. N15M Correct Answer: Option C –...
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