Jamb Accounts - Principles of Accounts Questions - Role of accounting records and information
Question 36:
| Period 1 | N |
| Cash to petty cashier | 1000 |
| Petty cashier pays out | 780 |
| Period 2 | |
| Petty cashier pays out | 840 |
What is the balance of cash with the petty cashier at the end of period 1?
Question 37:
In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?
View Answer & ExplanationQuestion 38:
Use the information below to answer question
i) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank
Determine the current liabilities?
View Answer & Explanationi) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank
Determine the current liabilities?
Question 39:
Use the information above to answer questions 19 and 20.
July 30 Closing stock 100 units at N90
July 8 Purchased 200 units at N95
July 10 Sold 160 units
July 17 Returned 80 faulty units purchased at N95
July 18 Purchased 200 units at N105
July 20 Sold 180 units
July 28 Purchased 200 units at N110
July 29 Sold 120 units
July 30 Sold 100 units
How many units were at hand as at July 30?
View Answer & ExplanationJuly 30 Closing stock 100 units at N90
July 8 Purchased 200 units at N95
July 10 Sold 160 units
July 17 Returned 80 faulty units purchased at N95
July 18 Purchased 200 units at N105
July 20 Sold 180 units
July 28 Purchased 200 units at N110
July 29 Sold 120 units
July 30 Sold 100 units
How many units were at hand as at July 30?
Question 40:
The major objective of departmental accounts is to ascertain the?
View Answer & Explanation