1997 - WAEC Accounting Past Questions and Answers - page 5

Use the following to answer the given question
Creditors Control Account:
\(\begin{array}{c|c} & & & N \ \hline Bank & \text{"X"} & \text{Balance b/d} & 1,200 \ Discount & 30 & \text{"Y"} & 1,800 \ \text{Balance c/d} & 450 & & \ \hline & & & & \hline \end{array}\)
How much "X" ?

Use the following to answer the given question
Creditors Control Account:
\(\begin{array}{c|c} & & & N \ \hline Bank & \text{"X"} & \text{Balanxe b/d} & 1,200 \ Discount & 30 & \text{"Y"} & 1,800 \ \text{Balance c/d} & 450 & & \ \hline & & & & \hline \end{array}\)
"Y" represents

Use the following to answer the given question
Creditors Control Account:
\(\begin{array}{c|c} & & & N \ \hline Bank & \text{"X"} & \text{Balanxe b/d} & 1,200 \ Discount & 30 & \text{"Y"} & 1,800 \ \text{Balance c/d} & 450 & & \ \hline & & & & \hline \end{array}\)
The balance of 450 in the above accounts represents

Use the following information to answer the given question

Kudi Local Government Council incurred the following expenditure in 1995:
\(\begin{array}{c|c} & N \ \hline \text{Payment of salaries} & 140,000 \ \text{Purchase of drugs for dispensaries} & 80,000 \ \text{Purchase of books for Library} & 30,000 \ \text{Sinking of wells} & 70,000 \ \text{Extension of Council offices} & 160,000 \end{array}\)
The amount of revenue expenditure for 1995 was

use the following information to answer the given question
\(\begin{array}{c|c} \text{Opening stock} & \text{- Footwears Department} & N800 \ & \text{- Stationary Department} & N600 \ Purchases & \text{- Footwears Department} & N1,600 \ & \text{- Stationary Department} & N2,800 \ \text{Wages of shoe packers} & & N600 \ & \text{-Salaries} & N1,200 \ & \text{-Footwares} & N4,000 \ Sales & \text{- stationery} & N6,000\end{array}\)
Additional Information (i) No closing stock
(ii) Common expenses are to be shared in the ratio sales
The net profit of Footwares Department is

use the following information to answer the given question
\(\begin{array}{c|c} \text{Opening stock} & \text{- Footwears Department} & N800 \ & \text{- Stationary Department} & N600 \ Purchases & \text{- Footwears Department} & N1,600 \ & \text{- Stationary Department} & N2,800 \ \text{Wages of shoe packers} & & N600 \ & -Salaries & N1,200 \ & \text{-Footwares} & N4,000 \ Sales & \text{- stationery} & N6,000\end{array}\)
Additional Information (i) No closing stock
(ii) Common expenses are to be shared in the ratio sales
The profit of the Stationery Department is

use the following information to answer the given question
\(\begin{array}{c|c} \text{Opening stock} & \text{- Footwears Department} & N800 \ & \text{- Stationary Department} & N600 \ Purchases & \text{- Footwears Department} & N1,600 \ & \text{- Stationary Department} & N2,800 \ \text{Wages of shoe packers} & & N600 \ & -Salaries & N1,200 \ & \text{-Footwares} & N4,000 \ Sales & \text{- stationery} & N6,000\end{array}\)
The cost goods for the stationery is

Use the following information to answer the given question. The Receipts and Payments Account of Acada Club for the year ended 31st December, 1995 is as follows:
\(\begin{array}{c|c} & N & & N \ \hline \text{Balance b/f} & 800 & \text{Printing and stationery} & 320 \ Subscriptions & 3,600 & \text{Postages and Telephone} & 160 \ \text{Donations} & 650 & Rent & 1,200 \ \text{Dace tickets} & 1,200 & \text{Library books} & 2,500 \ & & \text{Anniversary dance expenses} & 945 \ & & \text{balance c/d} & 1,125\ & \overline{6,250} & & \overline{6,250} \end{array}\)
The amount of income credited to Income and Expenditure Account for the year was

Use the following information to answer the given question. The Receipts and Payments Account of Acada Club for the year ended 31st December, 1995 is as follows:
\(\begin{array}{c|c} & N & & N \ \hline \text{Balance b/f} & 800 & \text{Printing and stationery} & 320 \ Subscriptions & 3,600 & \text{Postages and Telephone} & 160 \ \text{Donations} & 650 & Rent & 1,200 \ \text{Dace tickets} & 1,200 & \text{Library books} & 2,500 \ & & \text{Anniversary dance expenses} & 945 \ & & \text{balance c/d} & 1,125\ & \overline{6,250} & & \overline{6,250} \end{array}\)
The total expenses debited to Income and Expenditure Account for the year was

Use the following information to answer the given question. The Receipts and Payments Account of Acada Club for the year ended 31st December, 1995 is as follows:
\(\begin{array}{c|c} & N & & N \ \hline \text{Balance b/f} & 800 & \text{Printing and stationery} & 320 \ Subscriptions & 3,600 & \text{Postages and Telephone} & 160 \ \text{Donations} & 650 & Rent & 1,200 \ \text{Dace tickets} & 1,200 & \text{Library books} & 2,500 \ & & \text{Anniversary dance expenses} & 945 \ & & \text{balance c/d} & 1,125\ & \overline{6,250} & & \overline{6,250} \end{array}\)
The capital expenditure of the club for the year was