Waec Accounts - Principles of Accounts Past Questions and Answers

Question 926:

• WAEC 2008

Which of the following is not a subsidiary book?

A. Sales journal
B. Cash book
C. Purchases ledger
D. General journal

Question 927:

• WAEC 2008

Use the following information,
\(\begin{array}{c|c} & D\\ \hline \text{Construction of classrooms} & 500,000\\ \text{Sinking of boreholes} & 100,000\\ \text{Staff salaries} & 150,000\\ \text{Electricity} & 14,000 \\ \text{Transport and travels} & 7000\\ \text{office expenses} & 9,000 \end{array}\)
Recurrent expenditure is

A. D180,000
B. D164,000
C. D150,000
D. D30,000

Question 928:

• WAEC 2008

Use the following information,
\(\begin{array}{c|c} & D\\ \hline \text{Construction of classrooms} & 500,000\\ \text{Sinking of boreholes} & 100,000\\ \text{Staff salaries} & 150,000\\ \text{Electricity} & 14,000 \\ \text{Transport and travels} & 7000\\ \text{office expenses} & 9,000 \end{array}\)
Capital expenditure is

A. D780,000
B. D750,000
C. D600,000
D. D500,000

Question 929:

• WAEC 2008

In bank reconciliation, when a cash book shows a credit balance, uncredited cheques are i. deducted from the cash book balance. ii. added to the bank statement balance. iii. added to the cash book balance

A. I and ii only
B. I,ii and iii
C. Ii and iii only
D. Iii only

Question 930:

• WAEC 2008

When provision is made for doubtful doubt, the accounting entries are

A. Debit profit and loss account; credit provision for doubtful debt account
B. Debit debtors account; credit trading account
C. Debit profit and loss accoun; credit sales accoun
D. Debit trading account; credit debtors account