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Accounts - Principles of Accounts 2000 WAEC Past Questions

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1
Williams and Jacob are in partnership but there is no partnership agreement. The capital contributed are N60,000 and N40,000 respectively. Profit for the year is N20,000. Interest on capital is 10%. What is Williams' share of profit?
  • A. N12,000
  • B. N10,000
  • C. N8,000
  • D. N5,000
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2
Williams and Jacob are in partnership but there is no partnership agreement. The capital contributed are N60,000 and N40,000 respectively. Profit for the year is N20,000. Interest on capital is 10%. What is Jacob's share of profit?
  • A. N10,000
  • B. N8,000
  • C. N5,000
  • D. N4,000
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3
Williams and Jacob are in partnership but there is no partnership agreement. The capital contributed are N60,000 and N40,000 respectively. Profit for the year is N20,000. Interest on capital is 10%. If Williams introduces cash of N10,000 by way of loan to the partnership, how much interest will he earn per annum on the loan?
  • A. N2,000
  • B. N1,500
  • C. N1,000
  • D. N500
View Answer & Discuss (1) WAEC 2000
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4
Williams and Jacob are in partnership but there is no partnership agreement. The capital contributed are N60,000 and N40,000 respectively. Profit for the year is N20,000. Interest on capital is 10%. What is Williams' interest on capital?
  • A. N10,000
  • B. N7,000
  • C. N6,000
  • D. N4,000
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5
In a bonus issue of one new share for every four held, a holder of 100,000 shares will get additional shares of
  • A. 50,000
  • B. 25,000
  • C. 20,000
  • D. 10,000
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Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts