2012 - WAEC Accounting Past Questions and Answers - page 5

A loss made on the disposal of a fixed assets is debited to

Use the following information to answer the given question
\(\begin{array}{c|c} & D \ \hline \text{Cash in hand}& 1,440\ \text{Cash at bank} & 2440\ \text{Stock} & 2,500\ \text{Furniture and fittings} & 2,200 \ \text{Creditors} & 1,000\end{array}\)
The capital is

Use the following information to answer the given question
\(\begin{array} {c|c} & D \ \hline \text{Cash in hand}& 1,440\ \text{Cash at bank} & 2440\ \text{Stock} & 2,500\ \text{Furniture and fittings} & 2,200 \ \text{Creditors} & 1,000\end{array}\)
The liability is

Use the following information to answer the given question
\(\begin{array}{c|c} & Le\ \hline \text{Construction and hospital wards} & 300,000\ \text{purchase of hospital beds} & 40,000 \ \text{salaries and wages}& 80,000\ \text{Purchase of drugs} & 55,000\ \text{purchases of x-ray machine} & 150,000\end{array}\)
Capital expenditure for the year was

\(\begin{array}{c|c} & Le\ \hline \text{Construction and hospital wards} & 300,000\ \text{purchase of hospital beds} & 40,000 \ \text{salaries and wages}& 80,000\ \text{Purchase of drugs} & 55,000\ \text{purchases of x-ray machine} & 150,000\end{array}\)
The amount of recurrent expenditure was

Use the following information to answer the given question.
BALANCE SHEET AS AT 31st DECEMBER, 2010
\(\begin{array}{c|c} & ₦ & & ₦ \ \hline \text{Capital}& 40,000 & \text{Freehold premises} & 50,000\ \text{Less: Net loss} & \frac{5,000}{35,000} & \text{Stock} & 3,000\ \text{Less: Drawings} & \frac{2,000}{33,000} & \text{Debtors} & 4,000\ \text{Long term loan} & \frac{20,000}{53,000} & \text{Cash at bank} & 6,500\ \text{Creditors} & 8,000\ \text{Accrued expenses} & \frac{4,000}{65,000} & \text{Cash in hand} & 1,500\ & & & \text{Total 65,000}\end{array}\)
The amount of working capital is

Use the following information to answer the given question.
BALANCE SHEET AS AT 31st DECEMBER, 2010
\(\begin{array}{c|c} & ₦ & & ₦ \ \hline \text{Capital}& 40,000 & \text{Freehold premises} & 50,000\ \text{Less: Net loss} & \frac{5,000}{35,000} & \text{Stock} & 3,000\ \text{Less: Drawings} & \frac{2,000}{33,000} & \text{Debtors} & 4,000\ \text{Long term loan} & \frac{20,000}{53,000} & \text{Cash at bank} & 6,500\ \text{Creditors} & 8,000\ \text{Accrued expenses} & \frac{4,000}{65,000} & \text{Cash in hand} & 1,500\ & & & \text{Total 65,000}\end{array}\)
Working capital ratio is