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Accounts - Principles of Accounts Past Questions and Answers

Topic: Columnar cashbooks

Jamb Accounts - Principles of Accounts Questions - Columnar cashbooks

Question 41:
A proprietor withdraws cash from the business for private use, he
  • A Credits cash account and debits bank account
  • B Credits cash account and debits drawing A/C
  • C Debits cash account and credits drawings account
  • D Debits bank account and credits drawings account
View Answer & Explanation
Question 42:
₦
Balance as per cash book 5467
Uncredited cheques 4410
Unpresented cheques 19404




The balance as per bank statement is ____________
  • A ₦20,461
  • B ₦21,091
  • C ₦21,109
  • D ₦19,021
View Answer & Explanation
Question 43:
The effect of transaction when cash is paid into the bank is?
  • A Bank balance decrease and cash balance increase
  • B Cash balance decrease and bank balance increase
  • C Bank balance decrease and cash balance decrease
  • D Cash balance increase and bank balance increase
View Answer & Explanation
Question 44:
When starting with the cash book balance in preparing the bank reconciliation statement, the followings are added except ____________
  • A Uncredited cheque
  • B Credit transfer
  • C Dividend
  • D Unpresented cheque
View Answer & Explanation
Question 45:
Bello withdraws cash from bank to office, this is called ____________ entry
  • A Credit
  • B Contra
  • C Double
  • D Debit
View Answer & Explanation