by Sunday | Dec 4 | Accounting JAMB
A. Interest charged by suppliers B. Bills receivable honored C. Transfer of credit balances from credit control account D. Transfer of debit balance from creditors control account Correct Answer: Option A – Interest charged by suppliers Explanation Recall sales...
by Sunday | Dec 4 | Accounting JAMB
A. Balance b/d B. Cheque dishonoured C. Purchases D. Balance c/d Correct Answer: Option D – Balance c/d
by Sunday | Dec 4 | Accounting JAMB
A. sales account B. purchases account C. cash account D. wages account Correct Answer: Option C – cash account
by Sunday | Dec 3 | Accounting JAMB
Period 1 N Cash to petty cashier 1000 Petty cashier pays out 780 Period 2 Petty cashier pays out 840 A. 220 B. 780 C. 980 D. 1780 Correct Answer: Option A – 220 Explanation Period one income = N1,000 – N780 pay out = N220...
by Sunday | Dec 3 | Accounting JAMB
Total current assets………………N2,000 Total fixed assets………………..N4,000 Current liabilities……………….N1,200...