JAMB Accounting 2012 Objective — Question 9
Question 9 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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Given: purchases ₦12,000, Ibrahim ₦12,000 and sugar account ₦12,000. Cash Book Capital 2,600; Sales 28,200 | Purchases 15,000; Rent 1,250; Motor vehicle 7,600 Determine the bank balance.
- A. ₦6,950 creditCorrect
- B. ₦6,950 debit
- C. ₦6,000 credit
- D. ₦6,000 debit
Explanation
Total Debit = ₦30,800; Total Credit = ₦23,850; Balance = ₦6,950 (credit).
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