Jamb Accounting Past Questions For Year 2010
Question 26
If goods were returned to branch by the customers, the correct posting for this transaction is to debit?
- A. branch debtor's account and credit head office account
- B. head office account and credit branch stock account
- C. branch stock account and credit branch debtors' account
- D. branch cash account and credit branch stock account
Question 27
The Akachala Limited has four department W, X Y and Z. The profits or loss of the departments were N20 000 loss, X N25 profit, Y were N30 000 loss and Z N1800 profit. How much is the net profit or loss of the company?
- A. N7 000 loss
- B. N5 000 loss
- C. N5 000 profit
- D. N7 000 profit
Question 28
The summary of receipts and payments account represent?
- A. cash at hand
- B. journal proper
- C. general journal
- D. ledger accounts
Question 29
The equivalent of a club's receipts and payment account is the?
- A. trading account
- B. revenue account
- C. cash account
- D. suspense account
Question 30
The interest on partners' loans is?
- A. debited in current account
- B. credited in profit and loss account
- C. debited in profit and loss account
- D. credited in current account
