WAEC Accounting Past Questions & Answers - Page 341

Which of the following is not a purpose for which share premium may be utilized?

The first calculating machine in data processing was

The going concern concept assumes that

Use the following information to answer the given question.
\(\begin{array}{c|c} & ₦\\ \hline \text{Prime cost} & 4,000\\ \text{Factory overheads} & 6,000\\ \text{Stock on 1/1/09 work-in-progress} & 1,000\\ \text{Stock on 31/12/09 work-in-progress} & 2,000 \\ \text{Returns inwards} & 800 \\ \text{Sales} & 20,000\end{array}\)
Net sales for the period is

Use the following information to answer the given question.
\(\begin{array}{c|c} & ₦\\ \hline \text{Prime cost} & 4,000\\ \text{Factory overheads} & 6,000\\ \text{Stock on 1/1/09 work-in-progress} & 1,000\\ \text{Stock on 31/12/09 work-in-progress} & 2,000 \\ \text{Returns inwards} & 800 \\ \text{Sales} & 20,000\end{array}\)
Cost of production is