JAMB Accounting Past Questions & Answers - Page 234

NAFARA AND SONS Balance Sheet items as at 31st December, 1987.

Capital N74480
Creditors N15875
Prepaid expenses N580
Motor vehicles N34750
Furniture N35850
Accrued expenses N645
Stock N8100
Cash balances N9911
Debtors N1809

Compute the value of current assets?

i) Fixtures account (ii) Machinery account 
(iii) Wages accounts (iv) Rent account.
Which of the above are nominal account?

In a petty cash book the imprest is N1380.
Expenses:
Stationery N350
Cleaning material N335
General expenses N265

How much was received to maintain the imprest at the ends of the month?

In an incomplete record, the preparation of the bank reconciliation ensures that

An entry in a subsidiary book which does not form part of the double entry system is a