Jamb Accounting Past Questions For Year 2014
Question 36
Hussaina Enterprises sent goods worth #800,000 at cost plus mark-up of 20% to its branch
Determine the profit on the goods sent to the branch at profit margin of 25% mark-up
- A. #150,000
- B. #160,000
- C. #170,000
- D. #180,000
Question 37
Hussaina Enterprises sent goods worth #800,000 at cost plus mark-up of 20% to its branch
What is the cost price of the goods sent to the branch
- A. #600,000
- B. #620,000
- C. #640,000
- D. #700,000
Question 38
Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each.
Determine the amount received on application and allotment
- A. #224,950
- B. #225,000
- C. #324,950
- D. #325,000
Question 39
#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full on application. The entry in the cash book would be to
- A. credit #1,600,000
- B. debit #1,600,000
- C. credit #1,600,000
- D. debit #800,000
Question 40
The details of the share capital which a company is authorized to issue is contained in the
- A. Articles of Association
- B. Companies and Allied Matters Act
- C. Memorandum of Association
- D. Share capitak certificate
