Waec Accounting Past Questions For Year 1999
Question 21
Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
How many bits make 1 byte?
- A. 8 bits
- B. 9 bits
- C. 16 bits
- D. 64 bits
Question 22
Dividend proposed by a company is shown in its Balance Sheet as
- A. current asset
- B. current liability
- C. long-term liability
- D. fixed asset
Question 23
Which of the following is not a revenue expenditure ?
- A. repair of generating set
- B. purchase of inventory
- C. extension of building
- D. paymen of subscription
Question 24
Company tax paid is debited to
- A. profit and loss appropriation
- B. manufacturing account
- C. profit and loss account
- D. trading account
Question 25
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
Their profit sharing ratio is
- A. 1 : 8 : 1
- B. 1 : 5 : 1
- C. 1 : 25 : 1
- D. 1 : 1
