2014 JAMB UTME Accounts Past Questions

2014

In government accounting, the method used which records on the basis of financial entity with self-balancing books instead of entity of proprietorship is

2014

The account of government into which all monies are received and from which all expenditures are disbursed is the

2014

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.The book value of issued share capital is

2014

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

2014

₦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

2014

The details of the share capital which a company is authorized to issue is contained in the

2014

Payment for shares in excess of amount offered gives rise to

2014

The expenses incurred in purchasing a vehicle is a

2014

Where partnership is converted into a limited liability company, current account balances of partners are transferred to a

2014

The profit of a branch is usually credited to the

2014

In the absence of a partnership deed, the act stipulates that

2014

Hussaina Enterprises sent goods worth ₦800,000 at cost plus mark-up of 20% to its branchDetermine the profit on the goods sent to the branch at profit margin of 25% mark-up

2014

Hussaina Enterprises sent goods worth ₦800,000 at cost plus mark-up of 20% to its branchWhat is the cost price of the goods sent to the branch

2014

If goods are sent to to branch at 25% on cost, what will be the cost of goods sent to the branch at a selling price of ₦100,000?

2014

In a departmental account, the expenses to be apportioned on the basis of turnover is

2014

In a departmental account, where no basis of apportionment exist, apportionment is

2014

Given:Sales: ₦180,000Stock 1/1: ₦25,000Purchases: ₦110,000Sales returns: ₦1000Purchases returns: ₦1,500Gross profit: ₦58,000Determine the value of stock as at 31st December

2014

Social Club Subscription (Extract)31/12/2009 Subscription accrued #18,900Subscription received in advance #16,400Subscription received during The year 2009 #38,570What is the amount of subscription to be shown as liabili…

2014

Social Club Subscription (Extract)31/12/2009 Subscription accrued #18,900Subscription received in advance #16,400Subscription received during The year 2009 #38,570Determine the amount of subscription for the year

2014 JAMB UTME Accounts Past Questions

In government accounting, the method used which records on the basis of financial entity with self-balancing books instead of entity of proprietorship is

The account of government into which all monies are received and from which all expenditures are disbursed is the

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.The book value of issued share capital is

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

₦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

The details of the share capital which a company is authorized to issue is contained in the

Payment for shares in excess of amount offered gives rise to

The expenses incurred in purchasing a vehicle is a

Where partnership is converted into a limited liability company, current account balances of partners are transferred to a

The profit of a branch is usually credited to the

In the absence of a partnership deed, the act stipulates that

Hussaina Enterprises sent goods worth ₦800,000 at cost plus mark-up of 20% to its branchDetermine the profit on the goods sent to the branch at profit margin of 25% mark-up

Hussaina Enterprises sent goods worth ₦800,000 at cost plus mark-up of 20% to its branchWhat is the cost price of the goods sent to the branch

If goods are sent to to branch at 25% on cost, what will be the cost of goods sent to the branch at a selling price of ₦100,000?

In a departmental account, the expenses to be apportioned on the basis of turnover is

In a departmental account, where no basis of apportionment exist, apportionment is

Given:Sales: ₦180,000Stock 1/1: ₦25,000Purchases: ₦110,000Sales returns: ₦1000Purchases returns: ₦1,500Gross profit: ₦58,000Determine the value of stock as at 31st December

Social Club Subscription (Extract)31/12/2009 Subscription accrued #18,900Subscription received in advance #16,400Subscription received during The year 2009 #38,570What is the amount of subscription to be shown as liabili…

Social Club Subscription (Extract)31/12/2009 Subscription accrued #18,900Subscription received in advance #16,400Subscription received during The year 2009 #38,570Determine the amount of subscription for the year

Subscription in arrears is treated in the balance sheet of a club as