2017
Dauda, a retailer, does not keep proper books of account. The following were balances in his books on January 2013.Premises 70,000 Equipment 8,200 Vehicles 5,100 Inventory 9,500 Accounts receivable…
See more
2017 WAEC SSCE Accounts Past Questions
2017
Idayah Limited is a manufacturing company. The following balances were extracted from its records on 31st December 2014.Stock on 01/01/2014 Le Raw materials-------------------56,000 Work-in-progress-------…
See more
2017
The trial balance of Deba Duwa Enterprise failed to agree. The difference was entered in the suspense account. The following errors were later detected:i. A sum of $1000 received from Salako has been posted to his accoun…
See more
2017
(a) List the four main groups of accounting ratios(b) Identify accounting ratio which relates to each of the following statements i. a return of N10 net profit for every N100 invested ii. goods are held on average for a…
See more
2017
(a) Explain the following terms used in not-for-profit making organizations.i. Accumulated fund ii. Subscription in arrears iii. Receipts and Payment Accounts iv. Income and Expenditure Accounts v. Entrance fees(b) D…
See more
2017
(a) What is a Bank Reconciliation Statement?(b) State three reasons for preparing a bank reconciliation statement(c) Explain the following terms: i. unpresented cheques ii. standing order iii.credit transfer
See more
2017
(a) What is a source document?(b) List six types of source documents.(c) state three uses of subsidiary books
See more
2017
(a) Explain some of the terms used in the accounts for not-for-profit making organizations(b) Distinguish between shares and debentures.
See more
2017
(a) Accounting ratios(b) Eplain the following i. Accounting ratios ii. Current ratio iii. Rate of stock turnover iv. Return on capital employed v. Average collection period vi. Gross profit percentage(c) List out t…
See more
2017
(a) What is a suspense Account(b) Differentiate between the following; (i) Provisions and Reserves (ii) Expenses and Revenue (iii) Capital reserves and Revenue reserves
See more
2017
(a) Explain the following terms; i. Trade discount ii. Cash discount iii. Bad debts iv. provision for doubtful debts v. Bad debts recovered(b) Mention the errors that do not affect the agreement of the trial balance
See more
2017
An amount set aside to meet expenses whose value is not certain is a
See more
2017
A reserve is an amount
See more
2017
Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…
See more
2017
Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…
See more
2017
Which of the following is not a method of charginggoods to the branch by its head office?
See more
2017
The accounting entries when goods are sold on credit at the branch are debit
See more
2017
A branch that keeps its own records prepares the records of transactions with the head office in the
See more
2017
In departmental accounting, when goods are sent from one department to another for sale the transaction is treated as
See more
2017
The objective of a departmental accounts is to ascertain the
See more