Waec Accounts - Principles of Accounts 2012 Past Questions and Answers

Question 41:

• WAEC 2012

Which of the following is not an item in the profit and loss account?

A. Drawings
B. Interest
C. Salaries
D. Bad debts

Question 42:

• WAEC 2012

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

A. Sales account
B. Purchases account
C. Profit and loss account
D. Capital account

Question 43:

• WAEC 2012

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

A. D1,440
B. D6,580
C. D5,380
D. D1,000

Question 44:

• WAEC 2012

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

A. D7,580
B. D6,580
C. D5,380
D. D1,000

Question 45:

• WAEC 2012

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

A. Le 545,000
B. Le 490,000
C. Le 450,000
D. Le 300,000