Jamb Accounting Past Questions For Year 2003
Question 6
Use the information below to answer this questions
Capital..................N............N........
Land and building.......18470........24000....
Mortgage on premises...................11090...
Drawings...............3000...................
Profit and loss........................3600...
Furniture and fittings...5120.................
Motor Vehicles...........3462................
Closing Stock............3000................
Debtors..................11474...............
Creditors..............................7354.
Cash.....................1518................
..........................46044.........46044
What is the capital employed?
- A. N44 600
- B. N43 052
- C. N43 044
- D. N38 600
Question 7
What is the consolidated revenue fund balance?
- A. N1100,000
- B. N680,000
- C. N440,000
- D. N410,000
Question 8
What is the capital at start?
- A. N53 000
- B. N63 000
- C. N73 000
- D. N83 000
Question 9
Credit purchases are always put at 150% of the total cash paid to suppliers
Determine the credit purchases
- A. N13 500
- B. N15 500
- C. N13 400
- D. N12 000
Question 10
Credit purchases are always put at 150% of the total cash paid to suppliers
Calculate the closing balance of the ledger account
- A. N6 900
- B. N6400
- C. N5000
- D. N4000
