Waec Accounts - Principles of Accounts Past Questions and Answers

Question 186:

• WAEC 1992

Use the following information to answer the given question
Emeka Chukwudi (Nig.) Limited is a manufacturing company. Its books showed the following for the year ended 31st December, 1990
\(\begin{array}{c|c} \text{Opening stock - Raw materials} & 42,000 \\ \text{Purchases - Raw materials} & 265,000 \\ \text{Outwards} & 13,000 \\ \text{Returns outwards} & 13,000 \\ \text{Depreciation - plant and Machinery} & 10,000 \\ wages & 52,000 \\ \text{Closing stock - Raw materials} & 72,000 \\ \text{Direct expenses} & 11,000 \\ \text{Production Manager's salaries} & 18,000 \\ \text{Factory rent} & 15,000\end{array}\)
The cost of production is

A. N373,000
B. N351,000
C. N337,000
D. N328,000
E. N277,000

Question 187:

• WAEC 1992

Nagode (Nig.) Ltd. has three departments A, B and C. You are given the following Information
(i)Rent for the year - N3,000
(ii) Selling and distribution expenses - N1,800
(iii) Department
\(\begin{array}{c|c} & Turnover & \text{Floor space in square meters} \\ & N & N \\ \hline A. & 40,000 & 120 \\ B. & 60,000 & 80 \\ C. & 80,000 & 100\end{array}\)
How much rent is appointed to department A?

A. N2,000
B. N1,800
C. N1,200
D. N1,000
E. N800

Question 188:

• WAEC 1992

Nagode (Nig.) Ltd. has three departments A, B and C. You are given the following Information
(i)Rent for the year - N3,000
(ii) Selling and distribution expenses - N1,800
(iii) Department
\(\begin{array}{c|c} & Turnover & \text{Floor space in square meters} \\ & N & N \\ \hline A. & 40,000 & 120 \\ B. & 60,000 & 80 \\ C. & 80,000 & 100\end{array}\)
How much rent is apportioned to department C?

A. N2,000
B. N1,800
C. N1,200
D. N1,000
E. N800

Question 189:

• WAEC 1992

Nagode (Nig.) Ltd. has three departments A, B and C. You are given the following Information
(i)Rent for the year - N3,000
(ii) Selling and distribution expenses - N1,800
(iii) Department
\(\begin{array}{c|c} & Turnover & \text{Floor space in square meters} \\ & N & N \\ \hline A. & 40,000 & 120 \\ B. & 60,000 & 80 \\ C. & 80,000 & 100\end{array}\)
How much of selling and distribution expenses is apportioned to department B?

A. N1,800
B. N800
C. N600
D. N480

Question 190:

• WAEC 1993

The books of accounts are opened by means of a

A. Sales journal
B. Principle journal
C. Purchases journal
D. Return inwards journal
E. Return outwards journal