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JAMB Accounting 2008 Objective — Question 9

Question 9 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2008 Objective paper, with the correct answer and a full explanation.

Given: Cash book showing capital 65000, Sales 30000; Purchases 12,250, rent 9,100, Motor vehicle 2,400. Find the bank balance

A. #71,250 credit
B. 71,250 debitCorrect
C. 95 000 credit
D. 95000 debit

Explanation

Total debit = N95,000; Total credit = N23,750; Balance = N71,250 debit.

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