Waec Accounting Past Questions For Year 1999

Question 11

Use the following information to answer the given question

\(\begin{array}{c|c} & N \\ \hline \text{Debtors (1/1/98)} & 2,000 \\ \text{Debtors (31/12/98)} & 1,250 \\ \text{Cash received from debtors} & 6,000 \\ \text{Bad debt written off} & 750 \\ \text{Discount allowed} & 500 \\ \text{Discount received} & 125\end{array}\)

Assuming a gross profit of N3,000, what was the net profit?

waec 1999

  • A. N3,375
  • B. N2,625
  • C. N2,000
  • D. N1,875
View Answer and Explanation

Question 12

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

waec 1999

  • A. N2,220
  • B. N2,078
  • C. N1,642
  • D. N578
View Answer and Explanation

Question 13

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

waec 1999

  • A. N10,100
  • B. N8,900
  • C. N7,400
  • D. N5,900
View Answer and Explanation

Question 14

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 in hand on 31st July is

waec 1999

  • A. N2,220
  • B. N2,078
  • C. N1,642
  • D. N578
View Answer and Explanation

Question 15

The vote book in governmental accounting is used to

waec 1999

  • A. register the name of voters
  • B. control expenditure
  • C. record government revenue
  • D. record taxes paid
View Answer and Explanation