JAMB Accounts (Principles of Accounts) questions

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Question 281· The cash book and discounts· JAMB
Cash withdrawn from the bank for office use is recorded in the cash book by
Explanation and discussion
Question 282· The cash book and discounts· JAMB
In a three-column cash book, the total of the discount column on the debit side is posted to the
Explanation and discussion
Question 283· The cash book and discounts· JAMB
A contra entry in the cash book arises when
Explanation and discussion
Question 284· The cash book and discounts· JAMB
A three-column cash book has columns for
Explanation and discussion
Question 285· The cash book and discounts· JAMB
A cheque for ₦20,000 owed by Kola is received less 5% cash discount. How is it recorded in the cash book?
Explanation and discussion
Question 286· The cash book and discounts· JAMB
Bank charges shown on the bank statement are entered in the cash book on the
Explanation and discussion
Question 287· The cash book and discounts· JAMB
The bank balance was ₦50,000 (debit). Cheques received were ₦120,000 and cheques paid ₦145,000. What is the closing bank balance?
Explanation and discussion
Question 288· The cash book and discounts· JAMB
In a three-column cash book, discount allowed is totalled and posted to the
Explanation and discussion
Question 289· The cash book and discounts· JAMB
The total of the discount allowed column is posted to the
Explanation and discussion
Question 290· The cash book and discounts· JAMB
The cash column of a cash book can never show
Explanation and discussion
Question 291· The cash book and discounts· JAMB
The cash in hand at the start of a week was ₦12,000. Cash received during the week was ₦30,000 and cash paid out was ₦26,500. The closing cash balance is
Explanation and discussion
Question 292· The cash book and discounts· JAMB
In a three-column cash book, the discount column on the credit side records
Explanation and discussion
Question 293· The cash book and discounts· JAMB
A cheque received from a customer and immediately banked is entered on the
Explanation and discussion
Question 294· The trial balance and errors· JAMB
When a trial balance fails to agree, the difference is placed temporarily in a
Explanation and discussion
Question 295· The trial balance and errors· JAMB
Which of the following errors will cause the trial balance totals to disagree?
Explanation and discussion
Question 296· The trial balance and errors· JAMB
Discount allowed of ₦300 posted to the credit side of discount allowed account will cause the trial balance
Explanation and discussion
Question 297· The trial balance and errors· JAMB
A suspense account has a debit balance of ₦500. This means that in the trial balance
Explanation and discussion
Question 298· The trial balance and errors· JAMB
A sales invoice for ₦8,500 was entered in the sales journal as ₦5,800 and posted from there. This is an error of
Explanation and discussion
Question 299· The trial balance and errors· JAMB
Rent paid of ₦5,000 debited to the landlord's personal account instead of the rent account is an error of
Explanation and discussion
Question 300· The trial balance and errors· JAMB
When the trial balance credit total exceeds the debit total by ₦600, the suspense account will have
Explanation and discussion

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JAMB Accounts (Principles of Accounts) questions

Cash withdrawn from the bank for office use is recorded in the cash book by

In a three-column cash book, the total of the discount column on the debit side is posted to the

A contra entry in the cash book arises when

A three-column cash book has columns for

A cheque for ₦20,000 owed by Kola is received less 5% cash discount. How is it recorded in the cash book?

Bank charges shown on the bank statement are entered in the cash book on the

The bank balance was ₦50,000 (debit). Cheques received were ₦120,000 and cheques paid ₦145,000. What is the closing bank balance?

In a three-column cash book, discount allowed is totalled and posted to the

The total of the discount allowed column is posted to the

The cash column of a cash book can never show

The cash in hand at the start of a week was ₦12,000. Cash received during the week was ₦30,000 and cash paid out was ₦26,500. The closing cash balance is

In a three-column cash book, the discount column on the credit side records

A cheque received from a customer and immediately banked is entered on the

When a trial balance fails to agree, the difference is placed temporarily in a

Which of the following errors will cause the trial balance totals to disagree?

Discount allowed of ₦300 posted to the credit side of discount allowed account will cause the trial balance

A suspense account has a debit balance of ₦500. This means that in the trial balance

A sales invoice for ₦8,500 was entered in the sales journal as ₦5,800 and posted from there. This is an error of

Rent paid of ₦5,000 debited to the landlord's personal account instead of the rent account is an error of

When the trial balance credit total exceeds the debit total by ₦600, the suspense account will have