Jamb Accounting Past Questions For Year 2005
Question 16
What are the appropriate recording procedures for entries in the trial balance?
- A. source documents, ledgers and trial balance
- B. Ledgers, trial balance and source documents
- C. Ledgers, source documents and trial balance
- D. Cash account, ledgers and trial balance
Question 17
Goods withdraw from business for private use are credited to?
- A. drawings
- B. purchases
- C. sales
- D. capital
Question 18
Given:
...............................Jan.2003.........Dec. 2003
Provision for bad debt........N1000
Debtors..........................................N20000
Bad debt to be written off.......................N2000
The provision for bad debt stands at 10% of debtors. How much is to be charged to profit and loss account as provision for bad debt?
- A. N800
- B. N1000
- C. N1800
- D. N2000
Question 19
In a three-column cash book,the discount allowed is shown on the?
- A. debit side
- B. credit side
- C. folio column
- D. memorandum column
Question 20
A rent received by a trader for sub-letting part of his business premises should be added to the?
- A. gross profit
- B. total profit
- C. net profit
- D. total revenue
