JAMB Accounting 2010 Objective — Question 46
Question 46 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.
Advertisement
46. Sundry debtors in the balance sheet of Onoja Bakery and Sons totalled #800,000. A provision of 2% was made for discount and 5% provision for bad and doubtful debts. Find the amount for sundry debtors after provision. A. 760,000 B. 744,800 C. 744,000 D. 784,000
- A. 760,000
- B. 744,800Correct
- C. 744,000
- D. 784,000
Explanation
Discount = 2% x N800,000 = N16,000. Bad debt = 5% x N(800,000-16,000) = N39,200. Value of sundry debtors = N800,000 - N16,000 - N39,200 = N744,800.
Advertisement
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.