2002 - WAEC Accounting Past Questions and Answers - page 1

The accounting equation is

The source document sent by the seller to the buyer when goods are returned is

Which of the following is not a liability?

Discounts allowed is charged to

Which of the following belongs to the normal ledger?

Use the following information to answer the given question \(\begin{array}{c|c} & & ₦\ \hline \text{Raw materials} & \text{stock 1/1/2000} & 4,500 \ & purchases & 30,000\ & \text{stock 31/12/2000} & 6,000\ \text{Wages: direct} & & 34.200\ indirect & & 10,800\ \text{factory expenses: rent} & & 18,000\ insurance & & 3,000\ \text{work-in-progress: 1/1/2000} & & 3,750\ \text{31/12/2000} & & 6,750\end{array}\)
What is the cost of raw materials consumed?

Use the following information to answer the given question \(\begin{array}{c|c} & & ₦\ \hline \text{Raw materials} & \text{stock 1/1/2000} & 4,500 \ & purchases & 30,000\ & \text{stock 31/12/2000} & 6,000\ \text{Wages: direct} & & 34.200\ indirect & & 10,800\ \text{factory expenses: rent} & & 18,000\ insurance & & 3,000\ \text{work-in-progress: 1/1/2000} & & 3,750\ \text{31/12/2000} & & 6,750\end{array}\)
The prime cost is

Use the following information to answer the given question \(\begin{array}{c|c} & & ₦\ \hline \text{Raw materials} & \text{stock 1/1/2000} & 4,500 \ & purchases & 30,000\ & \text{stock 31/12/2000} & 6,000\ \text{Wages: direct} & & 34.200\ indirect & & 10,800\ \text{factory expenses: rent} & & 18,000\ insurance & & 3,000\ \text{work-in-progress: 1/1/2000} & & 3,750\ \text{31/12/2000} & & 6,750\end{array}\)
The amount of factory overhead is

Carriage inward expenses of a business is treated in

A provision is