2019
A sent B a cheque for ₦2000 to provide him with friends. They agreed to share profits in ratio 3 : 2 and settlement is by cheque.SalesAdvertWagesPurchasesA₦3200327851600B₦2100463701100The profit and loss in joint venture…
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2019 JAMB UTME Accounts Past Questions
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2019
From the following, determine the value of closing stock using FIFO:Feb 1 purchased 200 units @ ₦2.00 eachFeb 3 purchased 100 units @ ₦1.00 eachFeb 4 issued 120 units @ ₦5.00 eachFeb 5 purchased 50 units @ ₦3.00 eachFeb…
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2019
In the preparation of account, the owners of the business and the business concerned are treated as:
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2019
Capital at start was ₦250,000, while capital at the end of the year was ₦400,000. Drawings during the year amounted to ₦15,000. What is the profit?
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2019
One of the limitations of accounting is that
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2019
Given:Fixed assetsLiabilitiesCurrent assets₦55,00020,00013,000What is the capital?
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2019
Discount received is apportioned to each department on the basis of
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2019
The objective of departmentalization is to
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2019
A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is
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2019
One of the objective of maintaining the account of a branch at the head office is to
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2019
The instrument issued by the Minister who authorized an officer to incur expenditure is a/an
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2019
An officer that is charged with the responsibility of carrying out investigations on the book of accounts to show the true and fair view is
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2019
A machine cost ₦12,500 it will be kept for 4 years and then sold at a scrap value of ₦5,120. Using the diminishing balance method, what is the amount of depreciation for second year?
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2019
Which of the following cannot depreciate?
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2019
Which of the following is not charged to manufacturing account?
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2019
The manufacturing account is prepared to ascertain
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2019
In the preparation of statement of profit, if the opening capital is greater than closing capital, there will be
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2019
Use the information to answer this questionPayment to creditors ₦12,250Creditors at start ₦550Creditors at end ₦830What is the creditors amount in the balance sheet?
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2019
Use the information to answer this questionPayment to creditors ₦12,250Creditors at start ₦550Creditors at end ₦830What is the amount of purchase
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2019
Given:EquipmentMotor VehicleLoanCreditorsSub in advanceSub in arrears₦10,00015,0004,5003,0001503500What is the accumulated fund?
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