WAEC Book Keeping Past Questions
WAEC Book Keeping Past Questions
WASSCE SC 2023
Index Number:
BOOKKEEPING 1
Objective Test
50 minutes
Do not open this booklet until you are told to do so. While you are waiting, write your name and index number
in the spaces provided at the top right-hand comer of this booklet and thereafter, read the following instructions
carefully.
2023
BOOKKEEPING
Answer all the questions.
Each question is followed by four options lettered A to D. Find the correct option for each
question and shade in pencil on your answer sheet, the answer space which bears the same
letter as the option you have chosen. Give only one answer to each question. An example is
given below. -
The correct answers is suspense account, which is lettered B and therefore answer space B
would be shaded
Think carefully before you shade the answer spaces; erase completely any answer(s) you wish to
change.
5. When there is provision for depreciation account, fixed assets are shown in the balance
sheet at the
I. Historical values
II. Historical cost less depreciation for a particular period only
III. Historical cost less total depreciation to date
A. I only.
B II only.
C. III only.
D. I and II only.
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6. A payment of N500 cash to a creditor will result to
A. an increase in asset only.
B. a reduction in asset only.
A a reduction in both asset and liability.
D. an increase in both asset and liability.
Balance Sheet………..Q………..31/12/2018
N N
Capital x Plant and Machinery
K . Motor vehicle x
Creditors x x
Accrued expenses x R .
Debtors x
. . Stock x X .
XXX XXX
12. The cost incurred in transporting goods purchased to the business premises is posted to
the
A. debit side of profit and loss account.
B. credit side of profit and loss account
C. debit side of trading account.
D. credit side of trading account.
13. The subsidiary book used for day-to-day minor payments is
A. sales day book.
B. purchases day book.
C. returns inwards book.
D. petty cash book.
Chimgba, a trader, paid N90,000 for insurance premium for 15 months ended 31st March 2018
He prepares accounts to 31st December every year.
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21. An example of real account is
A. stock account.
B. rent account.
C. electricity account.
D. insurance account.
24. The provision for doubtful debt charged to profit and loss account in the year 2016 is
A. N13,920.
D. N9,120.
C. N4,800.
D. N4,320.
25. The total debtors in the balance sheet as at 31st December 2016 is
A. N174.000.
B. N14.000.
C. N60,000.
D. N55,200.
27. Subscriptions in arrears are recorded in the balance sheet as an item under
A. fixed assets.
B. long-term liabilities.
C. current assets.
D. current liabilities.
28. When damaged goods are returned to the seller, the seller issues
A. debit note.
B. credit note.
C. invoice.
D. waybill.
PAPER 2
ESSAY
2 hours
This paper consists of two sections, A and B. Answer two questions from Section A and three
question from Section B. You are reminded of the importance of clarity of expression and orderly
presentation of relevant materials. Calculators may be used but all workings must be shown.
SECTION A
THEORY OF BOOKKEEPING
Answer two questions only from this section.
(b) Classify the following items into Personal, Real and Nominal Accounts:
(i) building:
(ii) debtors;
(iii) commission received;
(iv) stock;
(v) machinery;
(vi) rent received;
(vii) insurance;
(viii) creditors;
(ix) lighting;
(x) advertising;
(xi) cash;
(xii) furniture and fittings. (6 marks)
5. Ali's Enterprise dealsin salt and has recorded the following transactions in the year 2020:
There was an opening stock on January 1st 2020 of 50 bags valued at N12,500.
6. Ifelodun Friendship Society has its Receipts and Payments Account for the year ended
31st December 2020 as follows:
Receipts and Payments Account for the year ended 31st December 2020
N N
Balance b/d 10.000 Bar stocks 3.400
Bar sales 6,500 Electricity 560
Subscriptions 12,000 Repairs of equipment 800
Life membership 2.500 Donations 4,500
Donations 7,000 Maintenance 1,200
Bar expenses 700
Rent 600
Balance c/d 26,240
38.000 38.000
Balance b/d 26.240
Additional information:
(ii) Accrued electricity and rent prepaid at 31st December 2020 were N160 and N120
respectively.
You are required to prepare:
(a) Subscriptions Account;
(b) Bar Trading Account for the year ended 31st December 2020;
(c) Income and Expenditure Account for the year ended 31st December 2020.
(20 marks)
8. Bolaji Enterprise started business on 1st June 2021 with N300,000 cash.
The following transactions took place in the month.
June 2: Bolaji opened a bank account with N100,000.
June 5: Purchased goods in cash for N80,000.
June 6: Paid N4,000 in cash for general expenses.
June 6: Paid N5,000 in cash for advertising.
June 7: Sold goods for cash N50,000.
June 9: Sold goods receiving cheque for N60,000.
June 10 Purchased goods by cheque N75,000.
June 14 Cash sales N85,000.
June 15 Cash sales N30,000.
June 16 Paid N8,000 by cheque for wages.
June 18 Paid N4,000 in cash for transport.
June 28 Withdrew N1,000 cash from bank for office use.
June 30 Paid N50,000 to the bank.
You are required to prepare a Two Column Cash Book for the month of June 2021.
(20 marks)
9. The following details relate to Niger Enterprise for the month of July 2021:
July 1: Started business with capital in cash ofN500,000.
July 2: Bought goods on credit from the following persons: Tom N50,000,
Michael N100,000
July 4 Sold goods on credit to: Ayo N175,000: Bola N80,000.
July 6: Paid rent by cash N20,000.
July 9: Ayo paid his account by cheque N175,000.
July 10: Bola paid N60,000 by cheque.
July 12: Paid the following by cheque: Tom N50,000: Michael N100,000.
July 15: Paid carriage outwards by cash N25,000.
July 18: Paid wages N5,000 by cash.
July 31: Paid insurance by cheque N6,000.
Interested in getting the updated & complete copy (all subjects) with solved solution,
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for Objective Test and Essay/Theory
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AFTER PAYMENT
Send us the following
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We will deliver the past question to you 3 mins after confirmation of payment to the email you
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Post UTME Past Questions
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