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Accounts - Principles of Accounts 2022 WAEC Past Questions

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1

Use of following information to answer questions below

     D

Motor vehicle

 500000

Stock

  35000

Debtors

 18000

Cash

 12850

Bank overdraft

 280000

Creditors

  21500

The capital is

  • A. D 867,350
  • B. D 544,350
  • C. D 264,350
  • D. D 832,350
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2

Use of following information to answer questions below

  D
Motor vehicle 500000
Stock 35000
Debtors 18000
Cash 12850
Bank overdraft 280000
Creditors 21500

 

The total current asset is

  • A. D 65,850
  • B. D 367,350
  • C. D 345,850
  • D. D 87,850
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3

Use of following information to answer questions below

  D
Motor vehicle 500000
Stock 35000
Debtors 18000
Cash 12850
Bank overdraft 280000
Creditors 21500

 

The total current liability is

  • A. D 301,500
  • B. D 258,500
  • C. D 264,350
  • D. D 280,000
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4

One of the items on the credit column of a trial balance is

  • A. returns outwards
  • B. carriage outwards
  • C. returns inwards
  • D. carriage inwards
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5

The user of accounting information who is responsible for overall performance of the business is the

  • A. customer
  • B. employee
  • C. shareholder
  • D. director
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