WAEC Accounting Past Questions & Answers - Page 128

636.

Stock is N200 at start, and N320 at close purchases N2,055 and sales N3,189. The value of goods available for sale will be

A.

N3,186

B.

N2,255

C.

N2,175

D.

N2,055

E.

N1,935

Correct answer is B

No explanation has been provided for this answer.

637.

Stock is N200 at start, and N320 at close purchases N2,055 and sales N3,189. Find the cost of goods sold

A.

N3,186

B.

N2,866

C.

N2,255

D.

N2,175

E.

N1,935

Correct answer is E

No explanation has been provided for this answer.

638.

Carriage inwards is shown on the

A.

Debit side of the profit and loss account

B.

Credit side of the trading account

C.

Debit side of the trading account

D.

Credit side of the profi and loss account

E.

Debit side of the cash book

Correct answer is C

No explanation has been provided for this answer.

639.

A balance of N102 on waged account was transferred as N120. This is error of

A.

Transposition

B.

Omission

C.

Principle

D.

Original entry

E.

Compensation

Correct answer is A

No explanation has been provided for this answer.

640.

Which of the following belongs to the Nominal Ledger?

A.

Creditors account

B.

Debtors account

C.

Salaries account

D.

Fixtures account

E.

Stock account

Correct answer is C

No explanation has been provided for this answer.