2014 JAMB UTME Accounts Past Questions

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2014

In government accounting, which method treats each fund as a separate financial entity with its own self-balancing books, rather than focusing on an owner's investment?

2014

Under section 80 of Nigeria’s Constitution, which public fund receives general federal revenues not legally assigned to another specific public fund and pays legally authorised expenditure?

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

Ordinary shares of 50k each, with a total nominal value of ₦800,000, 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

In an independent branch's own books, which account is credited when its net profit is transferred to the head office?

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), 31/12/2009Subscription accrued: #18,900Subscription received in advance: #16,400Subscription received during the year 2009: #38,570What subscription amount should be shown as a 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

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

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