JAMB Past Questions and Answers - Page 1345

6,721.

Statement of assets and liabilities as at 31st December, 2001.

Shareholders' interest N240 
Current liabilities N20 
Current assets N110
Fixed assets N140

What is the networking capital?

A.

N90m

B.

N70m

C.

N100m

D.

N80m

View answer & explanation

Correct answer is A

No explanation has been provided for this answer.

6,722.

Statement of assets and liabilities as at 31st December, 2001. Shareholders' interest N240 Current liabilities N20 Current assets N110 Fixed assets N140 

Determine the value of the trade investment?

A.

N8m

B.

N10m

C.

N15m

D.

N20m

View answer & explanation

Correct answer is B

No explanation has been provided for this answer.

6,723.

The normal accounting entry to record the dishonor of a businessman is to

A.

Debit cash book and credit suspense account

B.

Debit cash book and credit drawer

C.

Credit cash book and debit suspense account

D.

Credit cash book and debit drawer

View answer & explanation

Correct answer is D

No explanation has been provided for this answer.

6,724.

The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000.

Creditors N50,000
Debtors N46,000
Loan N100,000
Stock N20,000
Motor vehicle N120,000
Building N70,000
Accrued wages 30,000
Bank N25 ,000

The liabilities of Udo Co. Ltd is?

A.

N180,000

B.

N181,000

C.

N177,000

D.

N110,000

View answer & explanation

Correct answer is A

No explanation has been provided for this answer.

6,725.

The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000.

Creditors N50,000
Debtors N46,000
Loan N100,000
Stock N20,000
Motor vehicle N120,000
Building N70,000
Accrued wages 30,000
Bank N25 ,000

The value of capital invested by the owners is

A.

N110,000

B.

N105,000

C.

N101,000

D.

N100,000

View answer & explanation

Correct answer is C

No explanation has been provided for this answer.


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