2008 - WAEC Accounting Past Questions and Answers - page 3
The purchase of furniture, an asset to the company was debited to purchases account. This is an error of
Which of the following terms is not used to describe the total amount stated in the memorandum of association approved by the registrar of companies?
A cash payment of ₦85 to Regina was entered in the books as ₦58. The entries to correct the error are: debit
Use the following information,
(\begin{array}{c|c} & Le\ \hline \text{Sales} & 183,400 \ \text{Purchases} & 168000\ \text{Opening stock} & 20,100\ \text{Closing stock} & 48,800 \ \text{Carriage outwards} & 2400\ \text{Carriage inwards} & 5,000\ \text{Returns inwards} & 10,000\ \text{Expenses} & 15,000\ \text{Returns outwards} & 8,000\end{array})
The gross profit is
Use the following information,
(\begin{array}{c|c} & Le\ \hline \text{Sales} & 183,400 \ \text{Purchases} & 168000\ \text{Opening stock} & 20,100\ \text{Closing stock} & 48,800 \ \text{Carriage outwards} & 2400\ \text{Carriage inwards} & 5,000\ \text{Returns inwards} & 10,000\ \text{Expenses} & 15,000\ \text{Returns outwards} & 8,000\end{array})
The net profit is
Use the following information,
(\begin{array}{c|c} & Le\ \hline \text{Sales} & 183,400 \ \text{Purchases} & 168000\ \text{Opening stock} & 20,100\ \text{Closing stock} & 48,800 \ \text{Carriage outwards} & 2400\ \text{Carriage inwards} & 5,000\ \text{Returns inwards} & 10,000\ \text{Expenses} & 15,000\ \text{Returns outwards} & 8,000\end{array})
The cost of goods sold is
The class of shares to which payment of dividend depends on profit is
Payment for shares in installments is done by means of
Mark-up on goods sent to branch are recorded in the books by crediting
Which of the following s not part of cost of production?