by Sunday | Dec 3 | Accounting JAMB
A. branch debtor’s account and credit head office account B. head office account and credit branch stock account C. branch stock account and credit branch debtors’ account D. branch cash account and credit branch stock account Correct Answer: Option C...
by Sunday | Dec 3 | Accounting JAMB
The Akachala Limited has four departments W, X Y and Z. The profits or loss of the departments were N20 000 loss, X N25 profit, Y was N30 000 loss and Z N1800 profit. How much is the net profit or loss of the company? A. N7 000 loss B. N5 000 loss C. N5 000 profit D....
by Sunday | Dec 3 | Accounting JAMB
A. cash at hand B. journal proper C. general journal D. ledger accounts Correct Answer: Option A – cash at hand Explanation A receipts and payments account is a summary of actual cash receipts and payments extracted from the cash book over a certain period. It...
by Sunday | Dec 3 | Accounting JAMB
A. trading account B. revenue account C. cash account D. suspense account Correct Answer: Option C – cash account Explanation A receipts and payments account is a summary of actual cash receipts and payments extracted from the cash book over a certain period....
by Sunday | Dec 3 | Accounting JAMB
A. deducted from the capital B. added to the accumulated fund C. added to the capital D. deducted from the accumulated fund Correct Answer: Option C – added to the capital Explanation Surplus is the excess of income over expenditure. A credit balance in the...