Jamb Accounting Past Questions For Year 2016
Question 11
Turaki Youth Club Income and Expenditure for the year ended 31/12/04
# #
Bal.b/d 390 Expenses on cleaning 300
Sales of - New tool 510
trickets 4,000 Repairs 400
Donations 3,000 Electricity 350
Subscription 6,500
What is the total income for the period?
- A. #10,500
- B. #13,500
- C. #13,890
- D. #9,500
Question 12
A receipt is an evidence of
- A. payments
- B. stocking
- C. delivery
- D. discounts
Question 13
Given: #
Drawings 3,500
Net loss 2,500
Capital 1.1,2007 35,000
Additional capital 10,000
The adjusted capital as at 31 : 12 : 2007 is
- A. #45,000
- B. #39, 000
- C. #35,000
- D. #46,000
Question 14
Which of the following condition would attract credit and debit notes to be used?
- A. When goods are received from supplier
- B. When a trial balance is extracted
- C. When a buyer is under or over charged
- D. When goods are sold to a buyer
Question 15
The effect of overstating revenue expenditure in the profit and loss account is that the
- A. opening stock will be increased
- B. net profit will be understand
- C. net profit will be overstead
- D. opening stock will be decreased
