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Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \\ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \\ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \\ \text{10% Debentures} & 60,000 & Stock & 22,000 \\ Creditors & 10,000 & Debtors & 26,000 \\ \text{Accrued wages} & 12,000& Bank & 40,000 \\ & \overline{325,000} & & \overline{325,000}\end{array}\)
The equity capital is
AN203,000
BN180,000
CN140,000
DN88,000
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Question 12
waec1999
Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \\ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \\ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \\ \text{10% Debentures} & 60,000 & Stock & 22,000 \\ Creditors & 10,000 & Debtors & 26,000 \\ \text{Accrued wages} & 12,000& Bank & 40,000 \\ & \overline{325,000} & & \overline{325,000}\end{array}\)
What is the working capital?
AN180,000
BN140,000
CN88,000
DN66,000
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Question 13
waec1999
Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \\ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \\ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \\ \text{10% Debentures} & 60,000 & Stock & 22,000 \\ Creditors & 10,000 & Debtors & 26,000 \\ \text{Accrued wages} & 12,000& Bank & 40,000 \\ & \overline{325,000} & & \overline{325,000}\end{array}\)
The debt to equity ratio is
A1 : 4.05
B1 : 4
C1 : 3
D1 : 2.3
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Question 14
waec1999
Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \\ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \\ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \\ \text{10% Debentures} & 60,000 & Stock & 22,000 \\ Creditors & 10,000 & Debtors & 26,000 \\ \text{Accrued wages} & 12,000& Bank & 40,000 \\ & \overline{325,000} & & \overline{325,000}\end{array}\)
What is the current ratio?
A4 : 1
B3 : 1
C2 : 1
D1 : 1
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Question 15
waec1999
The main classes of shares are
Apreference shares and roghts issue
Bfixed shares and current share
Cordinary shares and preference shares
Dredeemable shares and Irredeemable shares
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Question 16
waec1999
Dividend proposed by a company is shown in its Balance Sheet as
Acurrent asset
Bcurrent liability
Clong-term liability
Dfixed asset
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Question 17
waec1999
Which of the following is not a revenue expenditure ?
Arepair of generating set
Bpurchase of inventory
Cextension of building
Dpaymen of subscription
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Question 18
waec1999
Company tax paid is debited to
Aprofit and loss appropriation
Bmanufacturing account
Cprofit and loss account
Dtrading account
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Question 19
waec1999
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
Their profit sharing ratio is
A1 : 8 : 1
B1 : 5 : 1
C1 : 25 : 1
D1 : 1
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Question 20
waec1999
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is Balla's Current Account balance as at 31/3/99?
AN11,000
BN7,000
CN5,500
DN4,500
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Question 21
waec1999
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is chike's share of profit from the partnership for the year ended 31/3/99 ?
AN8,500
BN7,000
CN5,500
DN4,500
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Question 22
waec1999
In-not-profit-making organizations, accumulated fund is the name for
Aprofit
Bloss
Ccapital
Dcurrent assets
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Question 23
waec1999
Which of the following is the memory part that is available for use by the computer user?
Abits
BRam
CData
DROM
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Question 24
waec1999
Which of the following is does not relate to a non-for-profit-making organization?
ABalance sheet
Breceipt and payment account
CLedger Accounts
DProfit and Loss Account
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Question 25
waec1999
Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
How many bits make 1 byte?
A8 bits
B9 bits
C16 bits
D64 bits
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Question 26
waec1999
Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The total cash payments during the month is
AN2,220
BN2,078
CN1,642
DN578
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Question 27
waec1999
Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The cash at bank on 31st July is
AN10,100
BN8,900
CN7,400
DN5,900
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Question 28
waec1999
Use the following information to answer the
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)
The cash in hand on 31st July is
AN2,220
BN2,078
CN1,642
DN578
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Question 29
waec1999
The vote book in governmental accounting is used to
