Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1131:

• WAEC 2012

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

A. Le 245,000
B. Le 175,000
C. Le 135,000
D. Le 80,000

Question 1132:

• WAEC 2012

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

A. ₦11,000
B. ₦7,00
C. ₦4,000
D. ₦3,000

Question 1133:

• WAEC 2013

The distinguishing feature between a two-column cash book is

A. Discount column
B. Cash column
C. Bank column
D. Ledger folio

Question 1134:

• WAEC 2013

The distinguishing feature between a two-column cash book is

A. Discount column
B. Cash column
C. Bank column
D. Ledger folio

Question 1135:

• WAEC 2013

The lodgement of business cash into the business bank account is an example of

A. Contra entry
B. Bank reconciliation
C. Self-balancing ledger
D. Reversal entry