by Sunday | Aug 18 | Accounting WAEC
A. interest on loan B. salary of workers C. electricity D. salary of partner E. travelling expenses of a partner Correct Answer: Option D – salary of partner
by Sunday | Aug 18 | Accounting WAEC
A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the diminishing balance, what is the net book value at the second year? A. N512 B. N525 C. N640 D. N700 E. N800 Correct Answer: Option C –...
by Sunday | Aug 18 | Accounting WAEC
A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the straight-line method, what is the depreciation charge for the second year? A. N128 B. N140 C. N160 D. N175 E. N200 Correct Answer: Option D –...
by Sunday | Aug 18 | Accounting WAEC
A. trading account B. profit and loss account C. balance sheet D. income distribution account E. appropriate account Correct Answer: Option B – profit and loss account
by Sunday | Aug 18 | Accounting WAEC
A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the diminishing balance method, what is the amount of depreciation for the second year? A. N128 B. N140 C. N160 D. N175 E. N200 Correct Answer: Option C –...