WAEC Accounting Past Questions & Answers - Page 218

A class of preference shares in which dividend rights are carried forward is

The excess of current assets over current liabilities is

Goodwill is taken into account in partnership when

\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ & 2 & \text{Paid Asaolu T. by cheque} & N1,500 \\ & 5 & \text{Paid transport by cash} & N42 \\ & 9 & \text{Received cheque from Olawoyin} & N3,600 \\ & 15 & \text{Cash sales to date} & N1,800 \\ & 17 & \text{Paid Haruna by cheque} & N1,200 \\ & 19 & \text{Paid Umana by cash} & N100 \\ & 31 & \text{Paid wages by cash} & N1,500 \end{array}\)

How many bits make 1 byte?

When partners maintain fixed capital accounts, the correct entries for a partner's share of profit is