2016 WAEC SSCE Accounts Past Questions

2016

The branch current account records

2016

The entries for credit sales at branch where the head office keeps all records are:Debit

2016

Use the following information and answer the question below.Oruma Ltd issued 300,000 ordinary shares at ₦100 each. Applications were received for 200,000 shares and all those who applied, paid in full.The authorized shar…

2016

When allotments have been fully paid, subscribers are referred to as

2016

In preparing partnership accounts, interest on drawings is debited to current accounts and credited to

2016

In the absence of a partnership agreement, additional capital contributions by partners attract interest of

2016

Where fixed capitals are maintained in a partnership, share profits are

2016

The concept which states that the affairs of a business is to be treated as being separate from the private activities of the owner is

2016

Purchases of fixtures and fittings by a club is recorded in the

2016

Which of the following is a credit item in an income and expenditure account?

2016

Offei, a petty trader sold goods for GH¢36,240. The gross profit being 33\(\frac{1}{3}\)% on cost. What was the cost price?

2016

Use the following information to answer this question.Cash purchase - D 29,641Creditors 1/1/14 - D 2,473Creditors 31/12/14 - D 3,117Cash paid to creditors - D 127,345Discount received - D 4,211The total purchases is

2016

Partly manufactured goods are treated in the balance sheet of a manufacturing company as

2016

Which of the following expenses constitutes prime cost?I. Direct labour cost II. Factory overheads III. Hiring of machine for production IV. Warehouse rent

2016

Use the following information to answer this question.Acquisition cost of computers - Le 80,000Installation cost - Le 20,000Estimated residual value - Le 4,000Estimated useful life - 5 years.The total costs of the comput…

2016

Which of the following would result from an increase in the provision for doubtful debts?

2016

Use the following information to answer this questions.Rent prepaid - 1/01/2014 - ₦600Rent paid - 31/12/2014 - ₦3,000Rent prepaid - 31/12/2014 - ₦400.The balance sheet as at 31st December 2014 will show

2016

Use the following information to answer this questions.Rent prepaid - 1/01/2014 - ₦600Rent paid - 31/12/2014 - ₦3,000Rent prepaid - 31/12/2014 - ₦400.Rent for 2014 chargeable to the profit and loss account is

2016

The excess of cost of goods sold over net sales is

2016

The balance sheet is prepared to reveal

1 2 3