Accounts - Principles of Accounts 1989 WAEC Past Questions

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Which of the following would be posted to the proprietor's capital account?

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The drawings account of a sole proprietorship is transferred to the

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A business marked up its cost by 50%. This would mean a gross profit of

A. 33\(\frac{1}{3}\)% on the cost price
B. 50% on the selling price
C. 66 \(\frac{2}{3}\)% on the selling price
D. 66\(\frac{2}{3}\)% on the market price
E. 33\(\frac{1}{3}\)% on the selling price

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Which of the following show s the stock at the start of an accounting period?

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The balance in the purchases ledger control account is

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