Jamb Accounting Past Questions For Year 2004
Question 16
The balancing figure in the purchases ledger control account is?
- A. N15,828
- B. N15,720
- C. N14,940
- D. N14,694
Question 17
Where closing stock is undervalued, the effect is?
- A. an increase in gross profit
- B. a decrease in gross profit
- C. an increase in purchases
- D. a decrease in purchase
Question 18
Given:
Rates paid during the year amounted to N2,250 at N125 per month and 1,035 was paid for electricity in the same period at N115 per month.
Determine the amount of prepaid rates?
- A. N345
- B. N750
- C. N1,380
- D. N1,500
Question 19
The balance on the provision for depreciation account is?
- A. added to fixed assets on the balance sheet
- B. deducted from the fixed assets on the balance sheet
- C. deducted from the profitand loss account
- D. added to current liabilities of the account
Question 20
Zakari started a business in January 2000. He bought a shop costing N54,000 and stock worth N7,600. Profit for the year amounted to 22,100. His closing capital was N73,800.
Zakari's personal drawings amounted to?
- A. N2,300
- B. N9,900
- C. N17,100
- D. N19,500
