by Sunday | Jan 7 | Accounting WAEC
Use the following information to answer the question below Kako Ltd bought a machine for D 1,200,000 on 1st January 2018. Depreciation was provided annually at a rate of 10% using the diminishing balance method. The machine was sold for D 880,000 on 31st December...
by Sunday | Jan 7 | Accounting WAEC
A. bad debt B. returns inwards C. bills dishonored by debtors D. bills accepted by debtors Correct Answer: Option C – bills dishonored by debtors Explanation Items on the debit side of the sales ledger control account are: Sales credit, interest charges,...
by Sunday | Jan 7 | Accounting WAEC
Use the following information to answer the question 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...
by Sunday | Jan 7 | Accounting WAEC
Use the following information to answer the question 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...
by Sunday | Jan 7 | Accounting WAEC
Use the following information to answer the question 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...
by Sunday | Jan 7 | Accounting WAEC
A. Bank Account; credit Cash Account B. Cash Account; credit Bank Account C. Cash Account; credit Drawings Account D. Drawings Account; credit Bank Account Correct Answer: Option D – Drawings Account; credit Bank Account Explanation Cash drawn from the bank by a...
by Sunday | Jan 7 | Accounting WAEC
A. ordinary dividend B. preference dividend C. capital reserve D. general reserve Correct Answer: Option B – preference dividend Explanation Preference dividend is a dividend that is allocated to and paid on a company’s shares. If a company is unable to...
by Sunday | Jan 7 | Accounting WAEC
Use the following information to answer the question below Le Raw materials: Stock (01/01/2017) 822000 Stock (31/12/2017) 560000 Purchases 125000 Returns of raw materials 15000 A. Le 402,000 B. Le 947,000 C. Le 932,000 D. Le 372,000 Correct Answer: Option D...
by Sunday | Jan 6 | Accounting WAEC
Use the following information to answer questions below Le Raw materials: Stock (01/01/2017) 822000 Stock (31/12/2017) 560000 Purchases 125000 Returns of raw materials 15000 A. Le 372,000 B. Le 932,000 C. Le 947,000 D. Le 402,000 Correct Answer: Option B...
by Sunday | Jan 6 | Accounting WAEC
A. balance sheet B. ledger C. trial balance D. journal Correct Answer: Option B – ledger Explanation The ledger contains permanent records of all the transactions of the business in a classified and summarized form. The entries in the cash book and other...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.