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The purchase of a typewriter for office use was debited to purchases Account. This is an error of
Aoriginal entry
Bcommission
Cprinciple
Domission
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Question 513
waec2003
Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \\ \text{Balance as per cash book} & 18,000\\ \text{Dishonored cheques} & 1,200\\ \text{Bank charged} & 300\\ Unpresented cheques} & 2,400\end{array}\)
The balance as per statement is
A₦21,300
B₦16,500
C₦16,500
D₦14,100
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Question 514
waec2003
Which of the following is a real account item?
Agoodwill
Bfixtures
Cdebtors
Dinterest
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Question 515
waec2003
Which of the following transactions is posted to the nominal ledger?
Adiscounts alloed to customers
Bcash paid by a customer
Cpurchase of fixed asset for cash
Dcash paid to suppliers
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Question 516
waec2003
Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \\ \hline \text{Balance as per cash book} & 18,000\\ \text{Dishonored cheques} & 1,200 \\ \text{Bank charged} & 300 \\ \text{Unpresented cheques} & 2,400\end{array}\)
The adjusted cash book balance is
A₦18,900
B₦18,000
C₦17,700
D₦16,500
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Question 517
waec2003
Which of the following is not a source document?
Acheque stub
Bcash receipt
Ccash receipt
Dcash book
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Question 518
waec2003
Which of the following items is found in the credit column of the trial balance?
Aprovision for doubtful debts
Bbad debts written off
Ccarriage inwards
Dcarriage outwards
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Question 519
waec2003
Debtors value as at 1st January 2000 was N40,000. Bad debts written off during the year was N5,000 provision for bad debt was 5%. The amount debited to profit and loss account as provision for the year was
AN5,000
BN2,250
CN2,000
DN1,750
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Question 520
waec2003
Which of the following errors would affect the agreement of the agreement of the trial balance totals?
Acommission
Bomission
Csingle entry
Doriginal entry
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Question 521
waec2003
A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001. The net book value at the time of sale was
AN33,000
BN30,000
CN17,000
DN16,000
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Question 522
waec2003
A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001.The profit or loss on sale was
A₦17,000 profit
B₦17,000 loss
C₦16,000 profit
D₦16,000 loss
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Question 523
waec2003
In which ledger is the account of yao, a debtor found?
Anorminal ledger
Bpurchases ledger
Cgeneral ledger
Dsales ledger
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Question 524
waec2003
In which of the following is purchase of fixed assets on credit first recorders?
Apurchases journal
Bjournal proper
Ccash book
Dgeneral ledger
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Question 525
waec2003
Which of the following source documents is used for recording goods and returned to suppliers?
Ainvoice
Bwaybill
Cdebit note
Dcredit note
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Question 526
waec2003
The opening balance of debtors is N100,000 and that of provision for doubtful debts is N1,000. If provision is to at \(\frac{1}{2}\)% of debtors, how much would be charged in the profit and loss account?
A₦3,500
B₦2,500
C₦1,500
D₦1,000
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Question 527
waec2003
Use the following information to answer question,
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 130,000\\ \text{Closing stocks} & 32,000 \\ \text{sales} & 180,000\end{array}\)
What was the gross profit?
A₦8,000
B₦50,000
C₦42,000
D₦10,000
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Question 528
waec2003
Use the following information to answer question,
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 130,000\\ \text{Closing stocks} & 32,000 \\ \text{sales} & 180,000\end{array}\)
What was the cost of goods sold?
A₦170,000
B₦138,000
C₦130,000
D₦122,000
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Question 529
waec2003
Which of the following is an item of prime cost?
Aroyalities payable
Bfactory salaries
Cdepreciation of plant
Drent of factory building
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Question 530
waec2003
Opening creditors was N65,000, closing creditors was N41,000. Credit purchases was N200,000 and discount received N3,000. How much was paid to creditors?
