📒 JAMB Principles of Accounts

Free JAMB Principles of Accounts past questions

Bookkeeping, final accounts, partnership, depreciation for JAMB UTME. 425 questions across 10 years (1978–2020).

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JAMB Principles of Accounts by year

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2004
36 questions
2003
50 questions
2002
38 questions
2001
43 questions
2000
40 questions
1999
49 questions
1998
45 questions
1997
33 questions
1995
42 questions
1994
49 questions
Sample questions

Recent JAMB Principles of Accounts questions

Latest 10 sample questions. Use the year browser above for the full collection.

Principles of Accounts JAMB 2004 Q11 ✓ Answer: B
Zakari started business in January 2000. He bought a shop costing N54,000 and stock worth N7,600. profit for the year amounted to N22,100. His closing capital was N73,800 Zakari’s personal drawings amounted to
A
N2,300,
B
N9,900,
C
N17,100, D.N19,500
Principles of Accounts JAMB 2004 Q12 ✓ Answer: B
The balance on the provision for depreciation account is
A
added to fixed assets on the balance sheet
B
deducted from fixed assets on the balance sheet
C
deducted from the profit and loss account
D
added to the current liabilities of the account
Principles of Accounts JAMB 2004 Q13 ✓ Answer: B
Given: Rates paid during the year amount to N2,250 at N125 per month and N1,035 was paid for electricity in the same period an N115 per month Determine the amount of prepaid rates
A
N345,
B
N750,
C
N1,380 D.N1,500 Use the information below to answer questions 14 and 15 Date Receipt Issued (Units May 2 80 @ N3.00 - May 10 50 @ N3.20 - May 17 - May 25 - May 31 20 @ N2.90 -
Principles of Accounts JAMB 2004 Q14 ✓ Answer: D
What is the value of raw materials issued on May 17th based ion the LIFO method?
A
N60,
B
N61,
C
N62,
D
N64
Principles of Accounts JAMB 2004 Q16 ✓ Answer: B
Where closing stock is undervalued, the effect is
A
an increase in gross profit,
B
a decrease in gross profit,
C
an increase in purchases,
D
a decrease in purchases Use the information below to answer questions 17 and 18 N Opening balance 10,640 Purchases 26,912 Returns inwards Returns outwards Cash discount received 1,348 Cash discount allowed 1,560 Cash paid to suppliers 20,808 At the year-end, the purchases ledger showed a debitbalance of N108. [PAGE 36]
Principles of Accounts JAMB 2004 Q17 ✓ Answer: A
The total on the debit side of the purchase ledger con- trol account will be:
A
N22,966
B
N22,15
C
N21,834,
D
N21,054
Principles of Accounts JAMB 2004 Q18 ✓ Answer: B
The balancing figure in the purchases ledger control account is
A
N15,828
B
N15,720
C
N14,940
D
N14,694
Principles of Accounts JAMB 2004 Q19 ✓ Answer: C
In a sales ledger, contra entry is found on the
A
debit side of the debtors’ control account
B
debit side of the creditors’ control account
C
credit side of the debtors’ control account
D
credit side of the creditors’ control account
Principles of Accounts JAMB 2004 Q20 ✓ Answer: C
The beginning and ending accounts receivable balances were N20,000 and N30,000 respectively. The collection from customers during the period was N70,000. What was the total sale on account?
A
N20,000
B
N60,000
C
N80,000
D
N120,000
Principles of Accounts JAMB 2004 Q21 ✓ Answer: C
Given : General expenses account N Paid by cheque Paid by cash Acrued b/f Acrued c/f Determine how much to be charged profit and loss ac- count
A
N606,
B
N786,
C
N791, D.N856
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