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Accounts - Principles of Accounts Past Questions

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1236
Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)
If no profit is to be retained, proposed preference shares dividend is
  • A. ₦28,000
  • B. ₦16,000
  • C. ₦12,000
  • D. ₦4,000
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1237
Use the following information to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)
The dividend per ordinary shares for the year is
  • A. ₦0.88 kobo
  • B. ₦0.40 kobo
  • C. ₦0.20 kobo
  • D. ₦0.17 kobo
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1238
Use the following information to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)
The dividend per ordinary shares for the year is
  • A. ₦0.88 kobo
  • B. ₦0.40 kobo
  • C. ₦0.20 kobo
  • D. ₦0.17 kobo
View Answer & Discuss WAEC 2006
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1239
A customers who returns goods to the supplier because they are detective is issued a
  • A. debit note
  • B. credit note
  • C. delivery note
  • D. bank note
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1240
Cross referencing among different books of accounts is achieved with the use of
  • A. columns
  • B. reference numbers
  • C. folio
  • D. margin
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