1990 - WAEC Accounting Past Questions and Answers - page 5
Use the following information to answer the given question:
(\begin{array}{c|c} & N \ \hline \text{Stock at 1st Jan. 1901} & 6,500 \ \text{Stock at 31st Dec. 1901} & 5,500 \ \text{Creditors at 1st Jan. 1901} & 4,000 \ \text{Creditors at 31st December 1901} & 5,000 \ \text{cash paid for goods during the year} & 20,000 \ \text{Gross profit} & \text{25% on cost} \ \text{Administrative and selling expenses} & 2,750
\end{array})
Calculate the percentage of net profit on sales
Use the following information to answer the given question:
(\begin{array}{c|c} & N \ \hline \text{Stock at 1st Jan. 1901} & 6,500 \ \text{Stock at 31st Dec. 1901} & 5,500 \ \text{Creditors at 1st Jan. 1901} & 4,000 \ \text{Creditors at 31st December 1901} & 5,000 \ \text{cash paid for goods during the year} & 20,000 \ \text{Gross profit} & \text{25% on cost} \ \text{Administrative and selling expenses} & 2,750
\end{array})
What is the amount charged in the profit and loss account?
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS
(\begin{array}{c|c} & N & & N \ \hline \text{Balance b/d} & ? & \text{Discount allowed} & 968 \ \text{sales} & 21,610 & \text{Sales returns} & 942 \ \text{Acceptance dishonoured} & 542 & \text{cash received from customers} & ? \ & & \text{Balance c/d} & 13,740 \ \text{Total} & 34,743 & \text{Total} & 34,742
\end{array})
What is the total debts at the end of the year?
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS
(\begin{array}{c|c} & N & & N \ \hline \text{Balance b/d} & ? & \text{Discount allowed} & 968 \ \text{sales} & 21,610 & \text{Sales returns} & 942 \ \text{Acceptance dishonoured} & 542 & \text{cash received from customers} & ? \ & & \text{Balance c/d} & 13,740 \ \text{Total} & 34,743 & \text{Total} & 34,742
\end{array})
What is the net sales for the year?
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS
(\begin{array}{c|c} & N & & N \ \hline \text{Balance b/d} & ? & \text{Discount allowed} & 968 \ \text{sales} & 21,610 & \text{Sales returns} & 942 \ \text{Acceptance dishonoured} & 542 & \text{cash received from customers} & ? \ & & \text{Balance c/d} & 13,740 \ \text{Total} & 34,743 & \text{Total} & 34,742
\end{array})
What is the total cash received from customers?
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS
(\begin{array}{c|c} & N & & N \ \hline \text{Balance b/d} & ? & \text{Discount allowed} & 968 \ \text{sales} & 21,610 & \text{Sales returns} & 942 \ \text{Acceptance dishonoured} & 542 & \text{cash received from customers} & ? \ & & \text{Balance c/d} & 13,740 \ \text{Total} & 34,743 & \text{Total} & 34,742
\end{array})
What is the total debts at the beginning of the year?