JAMB Accounting Past Questions & Answers - Page 197

A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for N31,500.

The accumulated depreciation provision at the time of sale was?

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?