1998 JAMB UTME Accounts Past Questions

1998

The limitations of the receipts and payments account arise mainly because of the reliance on?

1998

What was the cost of materials available for use during the period?

1998

Use the information below to answer question 28 and 29.Raw materials inventory at the beginning of a period was ₦46,800 and at the close of the period there was a balance of ₦38,600. From the purchases made during the pe…

1998

The objective of allocating all costs to producer is to?

1998

The contribution marginal on a job is the?

1998

The statement of affairs prepared from incomplete records can be described as?

1998

Derive the total sales figure from the following information extracted from a firm's cash book and other relevant records. Total debtors b/f N 5,600Total cash receipts from debtors And cash sales N 153,000 Total debtors…

1998

Determine the year''s purchase from the following information relating to a firm.Total creditor''s b/f N 7,200Total cash payment to suppliers N 98,800Total creditors c/f N 8,400

1998

Mini Enterprises Sales Ledger as at 31/12/94Read: N Balance b/f 12750 Total credit sales 28185 Payments by debtors 12112 Discount allowed 638 Sales returns 1500Prepare the sales ledger control account and determine the…

1998

A powerful instrument of control over both the sales ledger and the clek whose duty is to post the ledger is the?

1998

The balance on a purchase ledger control account represents the?

1998

On Ist January, 1993, lobo Company purchased equipment for ₦18,000. it uses straight-line depreciation and estimates an eight-year useful life and a ₦2,000 salvage value. On 31st December, 1996, it sells the equipment fo…

1998

A pottery company had sales of ₦176,000 during the current period and a gross profit rate of 40%.The company's cost of merchandize available for sale during the period was ₦128,000. The company's ending inventory is?

1998

Sobande Incorporation acquired a machine that involved the following expenditures and related factors. NGross invoice price 15,000Sales tax 900Purchases discount taken 300Freight 750Assembly of machine 500Installation of…

1998

Mayana Corporation uses special journals to record its transactions. If one of Mayana's customers returns merchandize purchased with cash (for a refund), it makes an entry in the?

1998

State Bank collected a note for A-Makura Company. This collection, not yet recorded in AL-Makura's books, appears on the bank reconciliation as?

1998

The amount required to replenish the payments made from the imprest was?

1998

Use the information below to answer questions 11 and 12.The initial imprest as at July Ist was ₦500. Petty cash vouchers with the custodian by July 15th added up to ₦394. An IOU slip received from a co-worker was ₦65 and…

1998

The total of the discounts received column in the cash book is posted to the?

1998

If the inventory at the end of the current year is understated and the error is not caught during the following year, the effect is to?

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