JAMB Past Questions and Answers - Page 946

4,726.

What was the balance showed wages, N2,500 and a note stated that N500 wages were due but unpaid when preparing final accounts and loss account with

A.

N3,000 and show wages accrued N500 in the balance sheet

B.

N2,000 and show wages accrued N500 in the balance sheet

C.

N3,000 and show wages perpaid N500 in the balance sheet

D.

N2,000 and show wages paid in advance N500 in the balace sheet

Correct answer is C

No explanation has been provided for this answer.

4,727.

Trade creditors account was maintained at 25% of the capital.

What was the balance in the trade creditors account as at 31/12/92?

A.

N29,800

B.

N29,500

C.

N29,400

D.

N29,000

Correct answer is C

No explanation has been provided for this answer.

4,728.

The book value of the assets as at 31/12/86 was

A.

N3,731,250.00

B.

N2,487,500.00

C.

N1,268,750.00

D.

N1,020,000. 00

Correct answer is A

No explanation has been provided for this answer.

4,729.

Accumulated depreciation on the asset as at 31/12/81 was

A.

N2,487,500.00

B.

N2,736,250.00

C.

N4,511,192.00

D.

N4,975,000.00

Correct answer is B

No explanation has been provided for this answer.