Waec Accounting Past Questions

Question 1631

One of the items on the debit side of sales ledger control account is

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  • A. bad debt
  • B. returns inwards
  • C. bills dishonored by debtors
  • D. bills accepted by debtors
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Question 1632

Use the following information to answer questions below Trading Account of Umeh Enterprises for the year ended 31st December 2019
GH⊄ GH⊄
Opening stock 10000 Sales 200000
Purchases 120000 Less: (4000)
130000 196000
Closing stock (22800)
Cost of goods sold -----
Gross profit ------
196000 196000
The GH⊄ 4,000 on the credit side is

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  • A. carriage outwards
  • B. carriage inwards
  • C. returns outwards
  • D. returns inwards
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Question 1633

Use the following information to answer questions below Trading Account of Umeh Enterprises for the year ended 31st December 2019
GH⊄ GH⊄
Opening stock 10000 Sales 200000
Purchases 120000 Less: (4000)
130000 196000
Closing stock (22800)
Cost of goods sold -----
Gross profit ------
196000 196000
The gross profit is

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  • A. GH⊄ 88,800
  • B. GH⊄ 43,200
  • C. GH⊄ 152,800
  • D. GH⊄ 107,200
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Question 1634

Use the following information to answer questions below Trading Account of Umeh Enterprises for the year ended 31st December 2019
GH⊄ GH⊄
Opening stock 10000 Sales 200000
Purchases 120000 Less: (4000)
130000 196000
Closing stock (22800)
Cost of goods sold -----
Gross profit ------
196000 196000
The cost of goods sold is

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  • A. GH⊄ 152,800
  • B. GH⊄ 107,200
  • C. GH⊄ 43,200
  • D. GH⊄ 88,800
View Answer and Explanation

Question 1635

The entries for cash drawn from the bank by a proprietor for the private use is: debit

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  • A. Bank Account; credit Cash Account
  • B. Cash Account; credit Bank Account
  • C. Cash Account; credit Drawings Account
  • D. Drawings Account; credit Bank Account
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