Jamb Accounting Past Questions For Year 2016
Question 31
Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled #800,000. A provision for bad and doubtful debts.
Find the amount for sundry debtors after provision.
- A. #744,800
- B. #760,000
- C. #784,000
- D. #744,000
Question 32
When stock is withdrawn for personal use, the accounting entries is to debit
- A. stock account credit drawings
- B. drawing account, credit stock account
- C. personal account credit cash account
- D. cash account, credit personal account
Question 33
Purchases can be ascertained through the preparation of a
- A. stock account
- B. sales account
- C. total debtors control account
- D. total creditors control account
Question 34
Clifford pays rent of #200 per month for premises, He paid #2,800 within the year. Compute the prepayment.
- A. #300
- B. #400
- C. #600
- D. #200
Question 35
I. Members subscription
II. Fines from members
III. Donation
IV. Loan from bank
From the information above, sources of income for a Not-for-profit-making organization include
- A. I,III,IV
- B. I,II,III
- C. I,II,IV
- D. I and IV
