JAMB Accounting Past Questions & Answers - Page 222

Given:
Total debtors b/d 31/12/99...............N25 000
Cheques received from debtors ...........N255 000
Total debtors c/d 31/12/00...............N15 000

Determine the sales figure?

Receipts and payments accounts is the summary of

Total sales of ticket.......................N300 000
Amount received from the sales..............N260 000
Cash purchase of club house.................N100 000
Credit purchase of equipment ...............N60 000
Electricity bill paid ......................N5 000
Salaries owed ..............................N2 000

What is the balance of the income and expenditure account?

Total sales of ticket.......................N300 000
Amount received from the sales..............N260 000
Cash purchase of club house.................N100 000
Credit purchase of equipment ...............N60 000
Electricity bill paid ......................N5 000
Salaries owed ...................N2,000

What is the receipts and payment account balance?

The first step in converting as single entry to a double entry system of bookkeeping is to prepare a?