Jamb Accounting Past Questions For Year 2002
Question 26
Given:
Balance at 31st December ............N14,744m
Treasury Bills issued Jan-Dec........N7124m
Revenue for the year ................N6387m
Expenditure .........................N8767m
What is the opening balance on the consolidated revenue fund account?
- A. N10,000m
- B. N12,000m
- C. N90,000m
- D. N11,000m
Question 27
An entry in a subsidiary book which does not form part of the double entry system is a?
- A. contra entry
- B. journal entry
- C. single entry
- D. memorandum entry
Question 28
In a petty cash book the imprest is N1380.
Expenses:
Stationery N350
Cleaning material N335
General expenses N265
How much was received to maintain the imprest at the ends of the month?
- A. N950
- B. N970
- C. N430
- D. N380
Question 29
In preparing the final accounts, the bad debt account is closed by a transfer to the?
- A. balance sheet
- B. provision for bad debt account
- C. profit and loss account
- D. trading account
Question 30
Given:
Stock (1/4/94) N800
Purchases of flour N2450
Sales N4745
Wages of bakery staff N675
Carriage outwards N50
Salary of administrative staff N225
Stock (31/3/95) N940
Capital N1540
Determine the cost of goods sold?
- A. N2575
- B. N2985
- C. N3250
- D. N3925
