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Accounts - Principles of Accounts 2010 WAEC Past Questions

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21

Bad debts written off is shown as

  • A. debit in the sales ledger
  • B. debit in the purchases ledger
  • C. credit in the sales ledger
  • D. credit in the purchases ledger
View Answer & Discuss WAEC 2010
22

The balance of the sales ledger control account represents

  • A. total sales
  • B. total credit sales
  • C. total creditors
  • D. total debtors
View Answer & Discuss WAEC 2010
23

Use the following information to answer given question
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock of raw materials} & 24,750\\ \text{Purchases of raw materials} & 129,640\\ \text{Carriage on raw materials} & 10,000\\ \text{Closing stock of raw materials} & 45,000 \\ \text{Factory supervisor's salary} & 30,000\\ \text{Wages of factory hands} & 50,000 \\ \text{Royalties paid}& 18,000\\ \text{Insurance of factories} & 62,000\\ \text{Work-in-progress(opening)} & 23,000 \\ \text{Raw material returned} & 12,200\end{array}\)
The value of raw material consumed is

  • A. ₦121,440
  • B. ₦119,390
  • C. ₦111,190
  • D. ₦101,190
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24

Use the following information to answer given question
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock of raw materials} & 24,750\\ \text{Purchases of raw materials} & 129,640\\ \text{Carriage on raw materials} & 10,000\\ \text{Closing stock of raw materials} & 45,000 \\ \text{Factory supervisor's salary} & 30,000\\ \text{Wages of factory hands} & 50,000 \\ \text{Royalties paid}& 18,000\\ \text{Insurance of factories} & 62,000\\ \text{Work-in-progress(opening)} & 23,000 \\ \text{Raw material returned} & 12,200\end{array}\)
The prime cost is

  • A. ₦152,190
  • B. ₦199,190
  • C. ₦169,190
  • D. ₦146,190
View Answer & Discuss WAEC 2010
25

Use the following information to answer given question
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock of raw materials} & 24,750\\ \text{Purchases of raw materials} & 129,640\\ \text{Carriage on raw materials} & 10,000\\ \text{Closing stock of raw materials} & 45,000 \\ \text{Factory supervisor's salary} & 30,000\\ \text{Wages of factory hands} & 50,000 \\ \text{Royalties paid}& 18,000\\ \text{Insurance of factories} & 62,000\\ \text{Work-in-progress(opening)} & 23,000 \\ \text{Raw material returned} & 12,200\end{array}\)
The total overhead expenses is

  • A. ₦142,000
  • B. ₦151,000
  • C. ₦110,000
  • D. ₦92,000
View Answer & Discuss WAEC 2010
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