Accounts - Principles of Accounts JAMB, WAEC, NECO AND NABTEB Official Past Questions

Use the following information to answer the given question:
\(\begin{array}{c|c} \text{Date of delivery} & customer & \text{Gross amount N} & \text{Trade discount %} & \text{Cash Discount %} & \text{Terms of payment} \\ \hline \text{4/1/86} & \text{Mr. A.F.P} & 12,000 & 15 & 10 & \text{30 days of delivery}
\end{array}\)
If Mr. A.F.P. failed to settled his account in time, th3 amount due from him would be

Use the following information to answer the given question:
\(\begin{array}{c|c} \text{Date of delivery} & customer & \text{Gross amount N} & \text{Trade discount %} & \text{Cash Discount %} & \text{Terms of payment} \\ \hline \text{4/1/86} & \text{Mr. A.F.P} & 12,000 & 15 & 10 & \text{30 days of delivery}
\end{array}\)
If Mr. A.F.P. settled his account after 30 days of the delivery, his total discount would be

Use the following information to answer the given question:
\(\begin{array}{c|c} \text{Date of delivery} & customer & \text{Gross amount N} & \text{Trade discount %} & \text{Cash Discount %} & \text{Terms of payment} \\ \hline \text{4/1/86} & \text{Mr. A.F.P} & 12,000 & 15 & 10 & \text{30 days of delivery}
\end{array}\)
If Mr. A.F.P settled his account a week after delivery, his total discount would be

Use the following information to answer the given question:
\(\begin{array}{c|c} \text{Date of delivery} & customer & \text{Gross amount N} & \text{Trade discount %} & \text{Cash Discount %} & \text{Terms of payment} \\ \hline \text{4/1/86} & \text{Mr. A.F.P} & 12,000 & 15 & 10 & \text{30 days of delivery}
\end{array}\)
The amount of discount in the ledger is

motor car costing N10,000 was depreciated at 20 per cent anuum by the diminishing balance method. Two years late, it was sold for N6,000. The net result of the sale was

The straight-line depreciation is

When precision for depreciation account is maintained, the annual charge for depreciation shall be

What are the entries of posting credit purchases into the purchases ledger control account?

The balance of the sales account is transferred to the trading account by

Commission received is entered on the

The salary of a shop keeper who sells goods would be charged in the

Stock is N200 at start, and N320 at close purchases N2,055 and sales N3,189. The value of goods available for sale will be

Stock is N200 at start, and N320 at close purchases N2,055 and sales N3,189. Find the cost of goods sold

Carriage inwards is shown on the

A balance of N102 on waged account was transferred as N120. This is error of

Which of the following will not affect the agreement of the rial balance? i. compensating error ii. debiting an item instead of crediting it iii. making only a single entry

Which of the following belongs to the Nominal Ledger?

Which of the following should be included in the adjusted cash book?

The balance of the pretty cash book should be

Cash discount received would be shown in the i. cash book ii. discount received account iii. supplier’s account

An overdraft is usually shown as a