2007 - WAEC Accounting Past Questions and Answers - page 3
Use the following information to answer the given question
(\begin{array}{c|c} \text{Rent receivable accrued 1/01/2005} & D3,000\ \text{Rent received during the year 2005} & D5,000\ \text{Rent receivable accrued 31/12/2005} & 2,600\end{array})
The rent receivable accrued as at 31st December 2005 is shown in the balance sheet as
Use the following information to answer the given question
(\begin{array}{c|c} & ₦ \ \hline \text{Opening balance} & 1,894 Dr \ \text{Cheques received from customers} & 7,286\ \text{Cash received from customers} & 1,236 \ \text{Returned from customers} & 296 \ \text{Closing balance} & 3,368 Dr\end{array})
The closing balance of ₦3,368 Dr is classified in the balance sheet as a
Which of the following is not a cause of depreciation?
Items on the left-hand side of a total debtors account are debits in the
Use the following information to answer the given question
(\begin{array}{c|c} & ₦ \ \hline \text{Opening balance} & 1,894 Dr \ \text{Cheques received from customers} & 7,286\ \text{Cash received from customers} & 1,236 \ \text{Returned from customers} & 296 \ \text{Closing balance} & 3,368 Dr\end{array})
credit sales for the period is
The cost price of a book is Le 9,000 and the selling price is Le 12,000. The mark up s
In single entry and incomplete records, the net assets method used to ascertain profit is
The assumption that a business has perpetual existence is recognized by
Youngsters Club has a membership of 115 persons. Each member pays an annual subscription of ₦50. During the year ended 31st December 2005, 8 members had not paid their subscriptions. using the information, the subscriptions recorded in the income ans expenditure account for the year ended 31st December 2005 is
Youngsters Club has a membership of 115 persons. Each member pays an annual subscription of ₦50. During the year ended 31st December 2005, 8 members had not paid their subscriptions. using the information, the subscriptions recorded in the income ans expenditure account for the year ended 31st December 2005 is