2009 - WAEC Accounting Past Questions and Answers - page 1

Which of the following books of original entry is used to record all payments and receipt by cash or cheque?

As a basis for assessing future usage, fixed assets are shown at

In the absence of an agreement, partners share profits

Subscription prepared by members is recorded in the balance sheet of a club as a

The reduction in value of an intangible asset is

Which of the following is not part of the cost of production

Rent is apportioned each department on the basis of

A document which acknowledge that a company owes a person a stated sum of money with an agreement to pay a fixed rate of interest periodically is

Use the following information to answer the given question
\(\begin{array}{c|c} & D\ \hline \text{Purchase of raw materials} & 236,500\ \text{Returns of raw materials} & 4,750\ \text{Carriage on raw materials} & 44,000\ \text{Stock of raw materials at close} & 39,500 \ \text{Factory fuel} & 150,000\ \text{Direct wages} & 205,000\ \text{Indirect wages} & 31, 250\ \text{Factory power} & 3105,000\ \text{Work-in-progress at start} & 32,500\end{array}\)
What is the value of raw materials used?

Use the following information to answer the given question
\(\begin{array}{c|c} & D\ \hline \text{Purchase of raw materials} & 236,500\ \text{Returns of raw materials} & 4,750\ \text{Carriage on raw materials} & 44,000\ \text{Stock of raw materials at close} & 39,500 \ \text{Factory fuel} & 150,000\ \text{Direct wages} & 205,000\ \text{Indirect wages} & 31, 250\ \text{Factory power} & 3105,000\ \text{Work-in-progress at start} & 32,500\end{array}\)
What is the prime cost???