2010 - WAEC Accounting Past Questions and Answers - page 3
Bad debts written off is shown as
The balance of the sales ledger control account represents
Use the following information to answer given question
(\begin{array}{c|c} & ₦ \ \hline \text{Opening stock of raw materials} & 24,750\ \text{Purchases of raw materials} & 129,640\ \text{Carriage on raw materials} & 10,000\ \text{Closing stock of raw materials} & 45,000 \ \text{Factory supervisor's salary} & 30,000\ \text{Wages of factory hands} & 50,000 \ \text{Royalties paid}& 18,000\ \text{Insurance of factories} & 62,000\ \text{Work-in-progress(opening)} & 23,000 \ \text{Raw material returned} & 12,200\end{array})
The value of raw material consumed is
Use the following information to answer given question
(\begin{array}{c|c} & ₦ \ \hline \text{Opening stock of raw materials} & 24,750\ \text{Purchases of raw materials} & 129,640\ \text{Carriage on raw materials} & 10,000\ \text{Closing stock of raw materials} & 45,000 \ \text{Factory supervisor's salary} & 30,000\ \text{Wages of factory hands} & 50,000 \ \text{Royalties paid}& 18,000\ \text{Insurance of factories} & 62,000\ \text{Work-in-progress(opening)} & 23,000 \ \text{Raw material returned} & 12,200\end{array})
The prime cost is
Use the following information to answer given question
(\begin{array}{c|c} & ₦ \ \hline \text{Opening stock of raw materials} & 24,750\ \text{Purchases of raw materials} & 129,640\ \text{Carriage on raw materials} & 10,000\ \text{Closing stock of raw materials} & 45,000 \ \text{Factory supervisor's salary} & 30,000\ \text{Wages of factory hands} & 50,000 \ \text{Royalties paid}& 18,000\ \text{Insurance of factories} & 62,000\ \text{Work-in-progress(opening)} & 23,000 \ \text{Raw material returned} & 12,200\end{array})
The total overhead expenses is
The accounting principle that states that insignificant expenditures are not to be taken into account is the
The realization concept states that
Where fixed capitals are maintained, partners' drawings are transferred to the
The method that provides a reliable a reliable check upon cash and stock at the branch and discloses the gross profit in the account is
A partners whose liability goes beyond his capital is known as