1994 WAEC SSCE Accounts Past Questions

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1994

Which of the following does not appear on the debit side of a company's profit and loss appropriation account?

1994

Bosun bought goods worth ₦500 and sold it at a margin of 20% on selling price. For how much did he sell the goods?

1994

Profit expressed as a proportion of cost price is known as

1994

Which of the following errors will not allow a trial balance to agree?

1994

Debtors on 1st January was ₦1,490 and sales for the year was ₦5,760. Cash received from debtors during the year was ₦5,410. Bad debt written off was ₦410. Discount allowed amounted to ₦320. What was the net profit for th…

1994

Debtors on 1st January was ₦1,490 and sales for the year was ₦5,760. Cash received from debtors during the year was ₦5,410. Bad debt written off was ₦410. Discount allowed amounted to ₦320. What was the debtors' balance…

1994

A cheque drawn for ₦1200 was entered in the cash book as a receipt. The accounting entries are

1994

Creditors at start was ₦940 and purchases for the year was ₦4,060. During the year, cash paid to creditors was ₦3,890. ₦490 was received as discount. What is the creditors amount in the balance sheet?

1994

Which of the following is not true of a partnership business without written agreement?

1994

Rate of stock turnover is defined as

1994

The excess of current assets over current liabilities is

1994

Debtors at start was ₦5,620 and at close ₦3,460. Cash and cheques received from customers amounted to ₦16,330. Credit sales for the year were valued at

1994

Which of the following is treated under partnership appropriation account?

1994

A plant which costs ₦1,000 and has a residual value of ₦125 is depreciated at 20% per annum. Using the diminishing balance, what is the net book value at the second year?

1994

A plant which costs ₦1,000 and has a residual value of ₦125 is depreciated at 20% per annum. Using the straight-line method, what is the depreciation charge for the second year?

1994

Which of the following serves the same purpose as the income and expenditure account of a non-trading organization?

1994

A plant which costs ₦1,000 and has a residual value of ₦125 is depreciated at 20% per annum. Using the diminishing balance method, what is the amount of depreciation for the second year?

1994

Which of the following is a Real account item?

1994

Which of he following is a current asset item?

1994

Where there is no partnership agreement, any contribution in excess of the agree capital attracts

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