Jamb Accounting Past Questions For Year 2015
Question 61
Use the information below to answer this question
Segun Ojo, didn’t keep her books on double principle. On 1st Jan, 2014, cash in hand was 850, bank overdraft 3500, debtor 15,500,stock 18,000, fittings 9,000 and creditors 12,700. As at Dec, 2014, cash in hand was 1200, cash at bank 2,500, debtors 10,000, stock 20,500, furnishing 4,000 and creditors 17,000
Compute the capital as at 1st Jan, 2014.
- A. 27,150
- B. 43,350
- C. 16,200
- D. 34,350
Question 62
Goods stolen at the branch is debited to
- A. branch stock account
- B. defalcations account
- C. branch debtors account
- D. branch adjustment account
Question 63
The income and expenditure account of a club is the same as
- A. single entry account
- B. a profit and loss account
- C. a trading account
- D. a cash book
Question 64
Calculate the total purchase of a business from the given information, cash purchases 3000; payments to creditors 53,000; creditors at the beginning 4000; creditors at the end 2,000
- A. N52,000
- B. N51,000
- C. N55,000
- D. N50,000
Question 65
Use the information below to answer this question.
A limited liability company has an authorized shares capital of 50 million split into 100 millions shares. 80million shares are offered for subscriptions at 60k per share in full on application. These have been fully subscribed on issue
What is the nominal value of each share
- A. N2
- B. N0.80
- C. N0.60
- D. N0.50
