1999 - WAEC Accounting Past Questions and Answers - page 1
Errors in the ledger can be corrected through
Item in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include
Discount received is
Carriage outwards is charged to
Carriage outwards is charged to
Use the following information to answer the given question
(\begin{array}{c|c} & N \ \text{Debtors (1/1/98)} & 2,000 \ \text{Debtors (31/12/98)} & 1,250 \ \text{Cash received from debtors} & 6,000 \ \text{Bad debt written off} & 750 \ \text{Discount allowed} & 500 \ \text{Discount received} & 125\end{array})
What was the amount of sales for the year?
Use the following information to answer the given question
(\begin{array}{c|c} & N \ \hline \text{Debtors (1/1/98)} & 2,000 \ \text{Debtors (31/12/98)} & 1,250 \ \text{Cash received from debtors} & 6,000 \ \text{Bad debt written off} & 750 \ \text{Discount allowed} & 500 \ \text{Discount received} & 125\end{array})
Assuming a gross profit of N3,000, what was the net profit?
Use the following information to answer the given question
(\begin{array}{c|c} & N \ \hline \text{Debtors (1/1/98)} & 2,000 \ \text{Debtors (31/12/98)} & 1,250 \ \text{Cash received from debtors} & 6,000 \ \text{Bad debt written off} & 750 \ \text{Discount allowed} & 500 \ \text{Discount received} & 125\end{array})
The debtors balance to be shown in the Balance Sheet at 31st December, 1998 is
Which of the following is a contra entry?
Profit expressed as a proportion of cost price is