JAMB Accounting 2009 Objective — Question 5

Question 5 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

5. Given: Capital #2,375,000; Debtors #495,000; Motor Vehicles #870,000; Creditors #245,000; Prepayments #500,000; Bills receivable #505,000; Furniture #150,000. What is the total debit for the trial balance?

A. #4,690,000
B. #2,620,000
C. #2,520,000Correct
D. #1,565,000

Explanation

Total debit = Debtors 495,000 + Motor vehicles 870,000 + Prepayments 500,000 + Bills receivable 505,000 + Furniture 150,000 = #2,520,000.

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