2023 NECO ACCOUNTING THEORY QUESTIONS
7. On Ist October, 2016,Martins had N6,400 as cash in hand.The following werthe transactions of Martins for the month of October 2016.
October 2 the following paid us by cheque: Okon N1,000,Abey N1,200
October 3 Cash sales paid directly into the bank N1,400
October 5 Paid rent by cash N360
October 6 We paid the following accounts by cheque: Samuel N1040, Tolu N600
October 7 Commission received by cheque N900
October 8 Banked cash N300
October 10 Withdrew cash from bank for personal use N60
October 12 Paid wages by cash N500
October 15 Bought motor van by cheque N40
October 16 Cash sales N2,000
October 18 Bought stationery paying by cash N340
October 20 Received N400 cheque from Yakubu
October 22 Cash purchases N1,100
October 23 Cash drawings N240
October 24 Bought goods by cheque N330
October 25 Victor lend us N1,020 cash
October 27 Paid motor expenses by cheque N36
October 28 The proprictor put further cash N2,640 into the business as capital.
You are required to prepare cash book for Martins for the month of October 2016.
Answer two Questions from this section.
1(a) What is Bank Reconciliation Statement?
Explain five reasons that cause disagreement between bank statement balance and cash book balance.
2 Explain the following terms:
① Error of principle
(ii) Error of compensation
(iii) Error of omission
(iv) Error of commission
(v) Error of complete reversal of entries
3(a) List and explain three sources of income to w hbn-profit making organisation.
(b) State five limitations of receipt and paymentaccount.
(c) Itemize tw sources of revenue to the federal govemment.
4(a) Write short notes on the following:
① Source documents
(ii) Debit note
(iii) Prime entry
(b) Stated two differences between goverment and private sector accounting.(4 marks)
(c). List two examples of real accounts.
STATISTICS AND OPERATIONS RESEARCH
Answer one question from this section.
A fair coin is tossed four times. Calculate the probability of obtaining:
14. (a)
(i) At least one tail
(ii) An equal number of heads and tails
(b) The annual demand for a certain product is 800 units and the unit price for the product is N2.00.If the ordering cost is N5.00 and the holding cost is 10% of the unit price,calculate the total variable cost per annum.
15. (a) Given the payoff matrix of players A and B in a game to be (3) find the:
(i) Maximin value of the game
(ii) Minimax value of the game
(iii) Mixed strategies of the players A and B
(iv) Values of the game.
If the scores of 5,000 students follow a normal distribution with mean 72 and variance 25,determine the number of students who obtained scores between 80 and 84.
Answer all questions in this part.
1. Let U=(e,f,g.h,i)be a universal set and X=(c,g). = (g,h) be subsets of U.
(a) Draw a Venn diagram to represent the above information.
(b) Use the Venn diagram to find:
2.
(a) Find the equntion of a cirele whose centre is(4,-5)and passes through(-3,2).
(b).
Simpliry(■+1/)
(6 marka)
3. (a) Given thatntx=2/-5jandy=4i+3/,findt
(i) Angle between them
(ii) Unit vector in the direction of 5x+
4. Usin the trapezium rule with 7 ordinatesx=2.0,2.5,3.0,3.5,4.04.5 and 5.0,estimate the valuc off2(2x+3)2dxd
5. Out of 10 males and 8 females staff in a school,a committee is to be set up consisting of 5 men and 3 women.In how many ways can this be done if
(a) any man and any woman may be included?
(b) the prineipal (a male)must be on the committee?
6. The table below shows the distribution of marks obtained by 100 candidates in an examination.
Marks,1-10,11-20,21-30,31-40,41.50,
Frequency,9,49,32,8,2,
Calculate,correct to three significant figures,the standard deviation of the distribution.
7. Three men pushed a bus with forces 204 N in the direction 030°, magnitude of the resultant force,correct to the nearest newton.
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