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

Rent Payable Account is an example of a

The art of recording transactions in books of account is known as

Which of the following has multiple uses?

The purchase of a typewriter for office use was debited to purchases Account. This is an error of

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \\ \text{Balance as per cash book} & 18,000\\ \text{Dishonored cheques} & 1,200\\ \text{Bank charged} & 300\\ Unpresented cheques} & 2,400\end{array}\)
The balance as per statement is

Which of the following is a real account item?

Which of the following transactions is posted to the nominal ledger?

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \\ \hline \text{Balance as per cash book} & 18,000\\ \text{Dishonored cheques} & 1,200 \\ \text{Bank charged} & 300 \\ \text{Unpresented cheques} & 2,400\end{array}\)
The adjusted cash book balance is

Which of the following is not a source document?

Which of the following items is found in the credit column of the trial balance?

Debtors value as at 1st January 2000 was N40,000. Bad debts written off during the year was N5,000 provision for bad debt was 5%. The amount debited to profit and loss account as provision for the year was

Which of the following errors would affect the agreement of the agreement of the trial balance totals?

A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001. The net book value at the time of sale was

A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001.The profit or loss on sale was

In which ledger is the account of yao, a debtor found?

In which of the following is purchase of fixed assets on credit first recorders?

Which of the following source documents is used for recording goods and returned to suppliers?

The opening balance of debtors is N100,000 and that of provision for doubtful debts is N1,000. If provision is to at \(\frac{1}{2}\)% of debtors, how much would be charged in the profit and loss account?

Use the following information to answer question,
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 130,000\\ \text{Closing stocks} & 32,000 \\ \text{sales} & 180,000\end{array}\)
What was the gross profit?

Use the following information to answer question,
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 130,000\\ \text{Closing stocks} & 32,000 \\ \text{sales} & 180,000\end{array}\)
What was the cost of goods sold?

Which of the following is an item of prime cost?