Waec Accounts - Principles of Accounts 1999 Past Questions and Answers

Question 16:

• WAEC 1999

Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The cash at bank on 31st July is

A. N10,100
B. N8,900
C. N7,400
D. N5,900

Question 17:

• WAEC 1999

Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The total cash payments during the month is

A. N2,220
B. N2,078
C. N1,642
D. N578

Question 18:

• WAEC 1999

Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
How many bits make 1 byte?

A. 8 bits
B. 9 bits
C. 16 bits
D. 64 bits

Question 19:

• WAEC 1999

Which of the following is does not relate to a non-for-profit-making organization?

A. Balance sheet
B. Receipt and payment account
C. Ledger Accounts
D. Profit and Loss Account

Question 20:

• WAEC 1999

Which of the following is the memory part that is available for use by the computer user?

A. Bits
B. Ram
C. Data
D. ROM