1995 - WAEC Accounting Past Questions and Answers - page 5
Use the following to answer the given question (\begin{array}{c|c} & N \ \hline \text{Balance as per bank statement} & 240 \ \text{Amount paid in but not credited} & 192 \ \text{Unpresented cheque} & 70 \end{array})
What is the balance as per Cash book?
Use the following to answer the given question
(\begin{array}{c|c} & N \ \hline sales & 45,000 \ \text{Opening stock} & 20,000 \ \text{Closing sock} & 30,000 \ Expenses & 15,000 \ \text{Fixed assets} & 40,000 \ Debtors & 10,000 \ Creditors & 5,000 \ Purchases & 25,000 \end{array})
The cost of goods sold is
Use the following to answer the given question
(\begin{array}{c|c} & N \ \hline sales & 45,000 \ \text{Opening stock} & 20,000 \ \text{Closing sock} & 30,000 \ Expenses & 15,000 \ \text{Fixed assets} & 40,000 \ Debtors & 10,000 \ Creditors & 5,000 \ Purchases & 25,000 \end{array})
Net profit is
Use the following to answer the given question
(\begin{array}{c|c} & N \ \hline sales & 45,000 \ \text{Opening stock} & 20,000 \ \text{Closing sock} & 30,000 \ Expenses & 15,000 \ \text{Fixed assets} & 40,000 \ Debtors & 10,000 \ Creditors & 5,000 \ Purchases & 25,000 \end{array})
Current ratio is
Use the following to answer the given question
(\begin{array}{c|c} & N \ \hline sales & 45,000 \ \text{Opening stock} & 20,000 \ \text{Closing sock} & 30,000 \ Expenses & 15,000 \ \text{Fixed assets} & 40,000 \ Debtors & 10,000 \ Creditors & 5,000 \ Purchases & 25,000 \end{array})
Working capital is
Use the following to answer the given question
(\begin{array}{c|c} & N \ \hline sales & 45,000 \ \text{Opening stock} & 20,000 \ \text{Closing sock} & 30,000 \ Expenses & 15,000 \ \text{Fixed assets} & 40,000 \ Debtors & 10,000 \ Creditors & 5,000 \ Purchases & 25,000 \end{array})
Net profit percentage is
Use the following to answer the given question
(\begin{array}{c|c} & N \ \hline sales & 45,000 \ \text{Opening stock} & 20,000 \ \text{Closing sock} & 30,000 \ Expenses & 15,000 \ \text{Fixed assets} & 40,000 \ Debtors & 10,000 \ Creditors & 5,000 \ Purchases & 25,000 \end{array})
Gross profit percentage is
Use the following to answer the given question
DEBTORS CONTROL ACCOUNT:
(\begin{array}{c|c} & N & N \ \hline \text{ Balance b/d} & 8,000 & & \ & & Bank & \text{"Y"} \ \text{'X"} & 12,000 & Discount & 200 \ & & \text{Balanced c/d} & 3,000\end{array})
'X' refers to
Use the following to answer the given question
DEBTORS CONTROL ACCOUNT:
(\begin{array}{c|c} & N & N \ \hline \text{ Balance b/d} & 8,000 & & \ & & Bank & \text{"Y"} \ \text{'X"} & 12,000 & Discount & 200 \ & & \text{Balanced c/d} & 3,000\end{array})
How much is the figure for bank?
Use the following to answer the given question
DEBTORS CONTROL ACCOUNT:
(\begin{array}{c|c} & N & N \ \hline \text{ Balance b/d} & 8,000 & & \ & & Bank & \text{"Y"} \ \text{'X"} & 12,000 & Discount & 200 \ & & \text{Balanced c/d} & 3,000\end{array})
The closing balance balance is a