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Accounts - Principles of Accounts Past Questions

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1766
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 \\ \text{Current liabilities} & 2,300 \\ Capital & 10,000 \\ \text{Long term liabilities} & 4,700\end{array}\)
What is the total net assets?
  • A. N17,300
  • B. N17,000
  • C. N15,000
  • D. N14,700
  • E. N12,000
View Answer & Discuss WAEC 1996
1767
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 \\ \text{Current liabilities} & 2,300 \\ Capital & 10,000 \\ \text{Long term liabilities} & 4,700\end{array}\)
Total liabilities amount to
  • A. N17,000
  • B. N14,700
  • C. N12,300
  • D. N7,000
  • E. N4,700
View Answer & Discuss WAEC 1996
1768
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 \\ \text{Current liabilities} & 2,300 \\ Capital & 10,000 \\ \text{Long term liabilities} & 4,700\end{array}\)
The working capital is
  • A. N10,000
  • B. N9,700
  • C. N7,300
  • D. N7,000
  • E. N2,700
View Answer & Discuss WAEC 1996
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1769
Use the following to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Stock 1/1/93} & 4,500 \\ Sales & 13,500\\ Purchases & 5,000 \\ \text{Carriage inwards} & 500 \\ \text{Stock 31/12/93} & 4,200 \\ \text{Return inwards} & 600\end{array}\)
Cost of sales is
  • A. N10,000
  • B. N9,500
  • C. N5,800
  • D. N5,300
  • E. N5,200
View Answer & Discuss WAEC 1996
1770
Use the following to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Stock 1/1/93} & 4,500 \\ Sales & 13,500\\ Purchases & 5,000 \\ \text{Carriage inwards} & 500 \\ \text{Stock 31/12/93} & 4,200 \\ \text{Return inwards} & 600\end{array}\)
Net sales is
  • A. N14,100
  • B. N14,000
  • C. N13,500
  • D. N12,900
  • E. N9,300
View Answer & Discuss WAEC 1996
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