Jamb Accounts - Principles of Accounts Questions
Question 6:
A debit in the suspense accounting will appear in the balance sheet as?
- A A current asset
- B A current lability
- C Capital
- D Drawings
Question 8:
The imprest account is subsidiary to the?
- A Ledger account
- B Bank account
- C Cash book
- D Bank column
Question 9:
Zakari started a business in January 2000. He bought a shop costing N54,000 and stock worth N7,600. Profit for the year amounted to 22,100. His closing capital was N73,800.
Zakari's personal drawings amounted to?
- A N2,300
- B N9,900
- C N17,100
- D N19,500
Question 10:
The balance on the provision for depreciation account is?
- A Added to fixed assets on the balance sheet
- B Deducted from the fixed assets on the balance sheet
- C Deducted from the profitand loss account
- D Added to current liabilities of the account