JAMB Accounting Past Questions & Answers - Page 83

411.

The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal]

The correct closing balance for lawal's current account is

A.

N21,100 debit

B.

N14,740 debit

C.

N14,740 credit

D.

N540 credit

Correct answer is C

No explanation has been provided for this answer.

412.

The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal

The Correct closing balance for Musa's current account is

A.

N36,000 Credit

B.

N16,600 credit

C.

N16,600 debit

D.

N1,800 credit

Correct answer is B

No explanation has been provided for this answer.

413.

What is the balance carried down?

A.

N11,680

B.

N11,930

C.

N12,330

D.

N13,430

Correct answer is C

No explanation has been provided for this answer.

414.

What is the total income for the period?

A.

N13,890

B.

N13,500

C.

N10,500

D.

N9,500

Correct answer is A

No explanation has been provided for this answer.

415.

Determine the closing stock.

A.

N30,000

B.

N40,000

C.

N50,000

D.

N60,000

Correct answer is C

No explanation has been provided for this answer.