Jamb Accounting Past Questions For Year 2004
Question 1
The value of the owner's equity is
- A. N400,000
- B. N900,000
- C. N957,000
- D. N1,357,000
Question 2
What is the value of the authorized share capital?
- A. N500,000
- B. N600,000
- C. N750,000
- D. N1, 200,000
Question 3
WHAT IS THE VALUE OF RAW MATERIALS ISSUED ON MAY 17TH BASED ON THE LIFO METHOD?
- A. N60
- B. N61
- C. N62
- D. N64
Question 4
The owner wishes to maintain an amount equal to \( \frac{1}{3} \)
of capital as drawings.
The cash book closing balance will be
- A. N900
- B. N2,400
- C. N4,200
- D. N4,600
Question 5
The owner wishes to maintain an amount equal to \( \frac{1}{3} \)
of capital as drawings.
The amount withdrawn is
- A. N2,100
- B. N2,200
- C. N4,400
- D. N6,400
