JAMB Accounting 2009 Objective — Question 27

Question 27 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

27. Prepaid rent income 30/9/06 #490, 30/9/07 #630. The cash book includes #2,100 received for rent income. What amount is to be credited to the profit and loss account in respect of rent income?

A. #1,710
B. #1,760
C. #2,000Correct
D. #2,240

Explanation

Rent Income A/c: Bal b/d 490 + Cash received 2,100 = 2,590; less Bal c/d 630 = #1,960 credited to P&L, closest to the #2,000 option; the source lists no exact matching option.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2009 Objective More Accounting past papers