Jamb Accounting Past Questions For Year 2006
Question 36
MPOBA Club's annual donations from members amount to 112% of its internally generated revenue from the following.
Sales of drinks...................N212 500
Annual dues.......................N112 000
How much is the total receipt of the club?
- A. N563 440
- B. N687 940
- C. N363 440
- D. N524 500
Question 37
Boro Limited apportion 1/6 of its rent for factory and 10% of the balance for warehouse. If rent paid is N48 600, how much is paid for warehouse?
- A. N4000
- B. N6000
- C. N10000
- D. N8000
Question 38
Given:
Subscriptions received.........N200 000
Subscriptions owed.............N10 000
Subscriptions in advance.......N25 000
Calculate the subscription in the income and expenditure account?
- A. N200 000
- B. N235 000
- C. N185 000
- D. N225 000
Question 39
Given:
....................January.............December
Assets................N28,320.............N25,320
Creditors.............N5,620..............N10,320
The proprietor made drawings of N755 per month for personal use.
The profit for the period is?
- A. N3000
- B. N1,360
- C. N9060
- D. N7700
Question 40
Determine the opening cash balance of the club?
- A. N3 070
- B. N2 220
- C. N5 710
- D. N4 320
