JAMB Past Questions and Answers - Page 1321

Goods withdraw from business for private use are credited to?

Given: 
........Jan. 2003.........Dec. 2003
Provision for bad debt........N1000
Debtors..............................N20000
Bad debt to be written off.......................N2000

The provision for bad debt stands at 10% of debtors. How much is to be charged to profit and loss account as provision for bad debt?

A rent received by a trader for sub-letting part of his business premises should be added to the?

In a three-column cash book,the discount allowed is shown on the?

Five hundred naira monthly is allowed on an imprest system. The following transactions took place.

Period1:
Cash advanced to petty cashier......N500
Petty cashier paid out: stamp.......N200
Newspaper...........................N250

Period 2:
Cash to petty cashier...............N450
Cashier paid for writing materials..N350

What was the balance of cash with the petty cashier at the end of period 1?