Jamb Accounting Past Questions For Year 2009
Question 11
Use the information to answer below to answer questions
i Operating machines
ii Furniture
iii Fixtures and fitting
iv Loan from friends
V Creditors
What are the current liabilities?
- A. i and ii
- B. iv and v
- C. iii and v
- D. ii and iv
Question 12
Use the information below to answer questions
Total current assets..................N2,000
Total fixed assets....................N4,000
Current liabilities...................N1,200
Drawings..............................N200
Long-term loan........................N2,000
What is the net working capital?
- A. N2,600
- B. N1,800
- C. N800
- D. N600
Question 13
Use the information below to answer questions
Total current assets..................N2,000
Total fixed assets....................N4,000
Current liabilities...................N1,200
Drawings..............................N200
Long-term loan........................N2,000
Determine the capital of the business?
- A. N9,400
- B. N6,000
- C. N3,400
- D. N3,000
Question 14
Given:
Balance as per cash book...................N20,000
Unpresented cheques........................N5, 200
Direct credit to the bank..................N1, 000
Direct debit from the bank.................N1, 000
Credit in the cash book....................N500
Calculate the balance as per bank statement at the end of the year?
- A. N24,700
- B. N25,200
- C. N26,200
- D. N27,700
Question 15
Which of the should not be added or subtracted from the bank statement balance to determine the adjust cash balance?
- A. Error by the bank
- B. Undercasting of the cash book
- C. Overcasting of the cash book
- D. Bank service charges
