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Use the following information to answer the given question
\(\begin{array}{c|c} & D\\ \hline \text{Balance as peer cash book} & 8,400\\ \text{Banking charges} & 300 \\ \text{standing order paid} & 2,500 \\ \text{Unpresented cheques} & 2,800 \end{array}\)
The balance as per bank statement is
AD10,900
BD8,400
CD5,600
DD2,800
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Question 952
waec2006
Use the following information to answer the given question
\(\begin{array}{c|c} & D\\ \hline \text{Balance as peer cash book} & 8,400\\ \text{Banking charges} & 300 \\ \text{standing order paid} & 2,500 \\ \text{Unpresented cheques} & 2,800 \end{array}\)
The adjustment cash book balance is
AD11,200
BD8,400
CD6,200
DD5,600
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Question 953
waec2006
Which of the following is a journal as well as an account?
Asales day book
Bcash book
Cgeneral journal
Dpurchases journal
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Question 954
waec2006
Where the head office maintains all books of account, goods sent to branch is credited to
Agoods sent to branch account
Bbranch stock account
Cbranch stockk adjustment account
Dhead office current account
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Question 955
waec2006
Which of the following columns of a three column cash book are memoranda? i. Discount ii. Discount allowed iii. Cash iv. Bank
Ai ans ii only
Bi and iii only
Cii and iii only
Diii and iv only
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Question 956
waec2006
The amount allowed off the cost price of an article to stimulate patronage is
Acash discount
Btrade discount
Cdiscount on debt
Ddiscount on bills
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Question 957
waec2006
Which of the following is not a revenue expenditure?
Apayment of salaries
Bpayment for advertisement
Cpurchases of motor vehicle
Dpurchases of goods
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Question 958
waec2006
Using the reducing balance method, the depreciation charged for year 2002 was
Use the following information to answer the given question
\(\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \\ \text{Depreciation rate 10%} & \end{array}\)
Using the reducing balance method, the depreciation charged for year 2003 was
A₦160,000
B₦150,000
C₦130,000
D₦120,000
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Question 959
waec2006
Using the reducing balance method, the depreciation charged for year 2002 was
Use the following information to answer the given question
\(\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \\ \text{Depreciation rate 10%} & \end{array}\)
Using the straight reducing balance method, the depreciation charged for year 2002 was
A₦100,000
B₦90,000
C₦80,000
D₦60,000
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Question 960
waec2006
Use the following information to answer the given question
\(\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \\ \text{Depreciation rate 10%} & \end{array}\)
A₦160,000
B₦130,000
C₦100,000
D₦60,000
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Question 961
waec2006
Which of the following is not a debit item in a creditor's control account?
Acash paid
Breturns outwards
Cpurchases
Ddiscount received
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Question 962
waec2006
Which of the following is charged to trading account?
Adiscounts allowed
Bcarriage outwards
Csalaries
Dcarriage inwards
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Question 963
waec2006
Control accounts are also known as
Acontra accounts
Btotal accounts
Cledger accounts
Dintegral accounts
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Question 964
waec2006
A set of instruments fed into a computer for accomplishing a given task is a/an
Ainput
Bprogramme
Coutput
Ddata
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Question 965
waec2006
Use the information to answer the given question.
\(\begin{array}{c|c} & D\\ \hline \text{Opening stock: raw materials} & 10,000\\ \text{work-in-progress} & 16,000\\ \text{Purchases of raw materials} & 95,000\\ \text{Direct labour wages paid} & 13,500\\ \text{Royalties paid} & 6,200\\ \text{Accrued wages} & 2,800\\ \text{Closing stock: raw materials} & 7,500\\ \text{work in progress} & 8,500\\ \text{Manufacturing overhead} & 10,000\end{array}\)
Cost of goods manufactured is
AD138,000
BD131,800
CD130,500
DD123,500
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Question 966
waec2006
Use the information to answer the given question.
\(\begin{array}{c|c} & D\\ \hline \text{Opening stock: raw materials} & 10,000\\ \text{work-in-progress} & 16,000\\ \text{Purchases of raw materials} & 95,000\\ \text{Direct labour wages paid} & 13,500\\ \text{Royalties paid} & 6,200\\ \text{Accrued wages} & 2,800\\ \text{Closing stock: raw materials} & 7,500\\ \text{work in progress} & 8,500\\ \text{Manufacturing overhead} & 10,000\end{array}\)
Prime cost is
AD120,500
B117,700
CD114,900
DD114,300
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Question 967
waec2006
Use the information to answer the given question.
\(\begin{array}{c|c} & D\\ \text{Opening stock: raw materials} & 10,000\\ \text{work-in-progress} & 16,000\\ \text{Purchases of raw materials} & 95,000\\ \text{Direct labour wages paid} & 13,500\\ \text{Royalties paid} & 6,200\\ \text{Accrued wages} & 2,800\\ \text{Closing stock: raw materials} & 7,500\\ \text{work in progress} & 8,500\\ \text{Manufacturing overhead} & 10,000\end{array}\)
Cost of raw materials consumed is
AD113,000
BD105,500
CD98,000
DD95,500
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Question 968
waec2006
In a system of incomplete records, the opening capital is determined by preparing
Astatement of affairs
Bbalance sheet
Ccash book
Dtrial balance
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Question 969
waec2006
Which of the following is not used in solving problems of incomplete records?
Acontrol accounts
Bstatement of affairs
Ccash book
Dbalance sheet
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Question 970
waec2006
"A business unit is assumed to operate into foreseeable future and earn reasonable net income". This statement is emphasized by the concept of
