Jamb Accounting Past Questions For Year 2005
Question 21
Which of the following item is found on the credit side of the sales ledger control account?
- A. Discount received
- B. Dishonoured cheques
- C. Credit sals
- D. Bills receivable
Question 22
Given:
purchases ledger balance..............N4000
purchases for the period..............N50000
Cash refunded by suppliers............N290
Cheques paid to suppliers..............N42300
Returns outwards.......................N2000
Discount received from suppliers.......N400
The balance of the purchases ledger control account is?
- A. N10390
- B. N9990
- C. N9590
- D. N9010
Question 23
The item that are contained in the bought ledger control account are?
- A. discount allowed, bad debts and purchases
- B. dishonoured cheques, returns inwards and sales
- C. returns outwards, bad debts outewards and sales
- D. discount received, returns outwards and purchases
Question 24
Use the information to answer question .
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for N31,500.
The net book value of the piece of equipment at the time of sale was?
- A. N96 000
- B. N48 000
- C. N36 000
- D. N24 000
Question 25
Use the information to answer question .
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for N31,500.
The accumulated depreciation provision at the time of sale was?
- A. N12 000
- B. N60 000
- C. N72 000
- D. N84 000
