2007 JAMB UTME Accounts Past Questions

2007

Use the information below to answer the question:Debtors.................................₦20Provision for bad debts..................10%Provision for discount on debtors........5%Determine the amount provided for discoun…

2007

(i) Facilitating the preparation of final accounts(ii) Making the existence of error easy to detect (iii)Checking the accuracy of positions periodically.From the above, which of the following are among the uses of contro…

2007

Use the information below to answer questions ........................1/7/2005............30/6/2006Drawings.....................................₦3 000Capital.................25 000...............₦42 500Furniture.........…

2007

Use the information below to answer the question........................1/7/2005............30/6/2006Drawings.....................................₦3 000Capital.................25 000...............₦42 500Furniture.......…

2007

Given:Opening capital................₦7 000Additional capital.............₦3 500Net............................₦2 500Closing........................₦10 250The drawings for the period stand at?

2007

Use the information below to answer question An asset was purchase for ₦343m in 2003.The estimated life of the asset was 3 years with a residual value of ₦28m.What was the asset value at the beginning of the third year?

2007

Use the information below to answer question An asset was purchase for ₦343m in 2003. The estimated life of the asset was 3 years with a residual value of ₦28m.Using the straight method. The depreciation of the asset in…

2007

Stock valuation is useful because it forms the sales department on the?

2007

The federal government approved ₦140m to local governments W, X, Y and Z. The amount is to be shared on the basis of 40% equality, 35% population and 25% internal revenue generation. Calculate the share of local governme…

2007

A pension granted to any past president or vice-president shall be charged to the?

2007

The gross profit disclosed in the branch stock adjustment account represents?

2007

Use the information above to answer questions Lighting..................₦2925Rent......................₦2640Salary....................₦4050The expenses are for three different product:Zema, Zeta and Zera. They are appoin…

2007

The amount of subscriptions accrued is reported in the balance sheet under?

2007

Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid ₦30 000 for goodwill , this amount would be…

2007

the receipt and payment s acpunt of a not-for-profit-making organization plays a similar role in a profit-making organization as?

2007

Given:Shaku Company Ltd.Stock..........................₦3600 000Cash at hand...................₦800 000Cash at bank...................₦2400 000Debtors........................₦580 000Trade creditors................₦920 00…

2007

Use the information below to answer question A company's authorized share capital was one million ordinary shares at ₦1 each. Issued 80% of its shares at ₦1.10 per share. 70k was payable on application, 25k on allotment,…

2007

An accounting ratio that considers only quick assets to determine the short-term safety margin of a firm is the?

2007

(i) Profits and looses will be shared unequally.(ii) Interest is not allowed on capital.(iii) Salaries are not allowed.(iv) Interest is charged on drawings.From the above, which of the following would apply where there i…

2007

Given:Stock at start:Raw materials................₦57 000Work-in-progress.............₦42 000Finished goods...............₦71 000Purchase of raw materials amount to ₦81 000, direct labour is ₦38 000 and factory overhead…

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