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Accounts - Principles of Accounts
WAEC 2024

Use the following information to answer this question.  
                                                                                    GH¢  
Trade creditors 1/1/2022                                            35,000  
Payment to suppliers in 2022                                     30,000  
Discounts received                                                      1,800  
Trade creditors 31/12/2022                                        24,000  

The purchases for 2022 is 

  • A. GH¢ 90,800.
  • B. GH¢ 55,800. 
  • C. GH¢ 39,200.
  • D. GH¢ 20,800. 
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Correct Answer: Option D
Explanation
   GH¢  

 GH¢

 Payment to supplier

 Discount received

Bal c/d

 

 30,000

 1,800

 24,000

 55,800

 Bal b/d

 Purchases

 

 

 35,000

 20,800

 ———

55,800

 

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now