1994 - WAEC Accounting Past Questions and Answers - page 4

Purchase of goods for N1,000 from chukwu had been entered in Cukwura's account. This is an error of

A typewriter for office use sold for N5,000 was posted to sales account. This is an error of a

Goods purchased for N92 was entered in the books as N29. This is an error of

John brought in an additional plant into his business. What are the accounting entries necessary to reflect the transaction?

Patent and Trade mark are classified under

A machine bought for N7,000 was estimated to have a useful life of 4 years and a scrap value of N500. Using the straight line method, what was the amount of depreciation charged per annum?

A machine bought for N7,000 was estimated to have a useful life of 4 years and a scrap value of N500, Using the reducing balance method, what is the amount of depreciation for the second year?

A machine bought for N7,000 was estimated to have a useful life of 4 years and a scrap value of N500. What is the Net book value of the machine at the end of the second year, Using the straight line method

Fixed assets include

Deferred charges are also known as