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

Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \\ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \\ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \\ \text{10% Debentures} & 60,000 & Stock & 22,000 \\ Creditors & 10,000 & Debtors & 26,000 \\ \text{Accrued wages} & 12,000& Bank & 40,000 \\ & \overline{325,000} & & \overline{325,000}\end{array}\)
What is the working capital?

Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \\ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \\ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \\ \text{10% Debentures} & 60,000 & Stock & 22,000 \\ Creditors & 10,000 & Debtors & 26,000 \\ \text{Accrued wages} & 12,000& Bank & 40,000 \\ & \overline{325,000} & & \overline{325,000}\end{array}\)
The debt to equity ratio is

Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \\ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \\ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \\ \text{10% Debentures} & 60,000 & Stock & 22,000 \\ Creditors & 10,000 & Debtors & 26,000 \\ \text{Accrued wages} & 12,000& Bank & 40,000 \\ & \overline{325,000} & & \overline{325,000}\end{array}\)
What is the current ratio?

The main classes of shares are

Dividend proposed by a company is shown in its Balance Sheet as

Which of the following is not a revenue expenditure ?

Company tax paid is debited to

Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
Their profit sharing ratio is

Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is Balla’s Current Account balance as at 31/3/99?

Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is chike’s share of profit from the partnership for the year ended 31/3/99 ?

In-not-profit-making organizations, accumulated fund is the name for

Which of the following is the memory part that is available for use by the computer user?

Which of the following is does not relate to a non-for-profit-making organization?

Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
How many bits make 1 byte?

Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The total cash payments during the month is

Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The cash at bank on 31st July is

Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The cash in hand on 31st July is

The vote book in governmental accounting is used to

Deferred charges are also known as

Which of the following will not make a trial balance total to agree?

Profit expressed as a proportion of cost price is