0% found this document useful (0 votes)
3K views

WAEC Book Keeping Past Questions

Download WASSCE/ WAEC Book Keeping Past Questions and Answers Objective and Essay.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
3K views

WAEC Book Keeping Past Questions

Download WASSCE/ WAEC Book Keeping Past Questions and Answers Objective and Essay.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 13

SC 1091 Name:

WASSCE SC 2023
Index Number:
BOOKKEEPING 1
Objective Test
50 minutes

THE WEST AFRICAN EXAMINATIONS COUNCIL


West African Senior School Certificate Examination (WASSCE) for School Candidates, 2023

SC 2023 BOOKKEEPING 1 50 minutes


OBJECTIVE TEST
[40 marks]

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.

1. Use HB pencil throughout.


2. If you have got a blank answer sheet, complete its top section as follows.
(a) In the space marked Name, write in capital letters your surname followed by your other names.
(b) In the spaces marked Examination, Year, Subject and Paper, write ‘WASSCE (SC)’, ‘2023’
‘BOOKKEEPING and ‘1’ respectively.
(c) In the box marked Index Number, write your index number vertically in the spaces on the left-
hand side. There are numbered spaces in line with each digit. Shade carefully the space with the
same number as each digit.
(d) In the box marked Paper Code, write the digits 402112 in the spaces on the left-hand side. Shade
the corresponding numbered spaces in the same way as for your index number.
(e) In the box marked Sex, shade the space marked M if you are male, or F if you are female.
3. If you have got a pre-printed answer sheet, check that the details are correctly printed, as described in
2 above. In the boxes marked Index Number, Paper Code and Sex, reshade each of the shaded spaces.
4. An example is given below. This is for a male candidate whose name is Chinedu Oladapo DIKKO,
whose index number is 4251102068 and who is offering Bookkeeping 1.

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. -

When a trial balance totals disagree, the difference is transferred to


A. real account
B. suspense account
C. journal entry
D. profit and loss account

The correct answers is suspense account, which is lettered B and therefore answer space B
would be shaded

[A] [B] [C] [D]

Think carefully before you shade the answer spaces; erase completely any answer(s) you wish to
change.

Do all rough work on this question paper.

Now answer the following questions.

1. The amount reimbursed in an imprest system is the sum


A. not spent
B. actually spent
C. approved as float.
D. borrowed from float.

2. Receipts is classified as revenue if it is cash from the


A. sale of fixed assets.
B. sale of goods.
C. sale of shares.
D. sublet of premises.

3. The book used to record the sale of fixed asset on credit is


A. purchases day book.
B. sales journal.
C. petty cash book.
D. general journal.

4. Discount received is shown in the


A: debit side of purchases ledger control account.
B. credit side of purchases ledger control account.
C. credit side of sales ledger control account.
D. debit side of sales ledger control account.

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.
The original pdf copy of this past
question was typed, scanned,
compiled & packaged
by:

In case of next buy or you want to


buy other past questions,
contact us directly
on:
Website/Blog: www.stcharlesedu.com

Facebook Page: stcharlesedu

Whatsapp: 2348051311885
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.

7. An item in the credit side of a profit and loss account is


A. carriage inwards.
B. carriage outwards.
C. discounts allowed.
D. discounts received.

8. An incentive given to a customer for buying in large numbers is


A. seasonal discount.
B. quantity discount.
C. commission.
D. interest.

Use the following information to answer questions 9 to 11.

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

9. The letter Q represents


A. as at.
B. for the year ended.
C. during the year ended.
D. for the year.

10. The letter K represents


A. fixed assets.
B. current assets.
C. current liabilities.
D. long-term liabilities.

11. The letter R represents


A. fixed assets.
B. current assets.
C. current liabilities.
D. long-term liabilities.

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.

Use the following information to answer questions 14 to 16.


Opening stock N100, 000; Cost of goods sold N1, 300,000; Closing stock N200, 000;
Gross profit N400, 000.

14. The purchases is


A. N1,700,000.
B. N 1,600,000.
C. N 1,500,000.
D. N1,400,000.

15. The cost of goods available for sale is


A. N 1,700,000.
B. N 1,600,000.
C. N1,500,000.
D. N1,400,000.

16. The sales is


A. N1,700,000.
B. N1,600.000.
C. N1,500,000.
D. N1,400.000.

17. The equivalent of cash account in a not-for-profit making organization is


A. income and expenditure account.
B. accumulated fund.
C. receipts and payments account.
D. statement of affairs.

Use the following information to answer questions 18 and 19.

Chimgba, a trader, paid N90,000 for insurance premium for 15 months ended 31st March 2018
He prepares accounts to 31st December every year.

18. The amount carried to the balance sheet at 31 December 2017 is


A. N90,000.
B. N72,000.
C. N18,000.
D. N6,000.

19. The amount carried to the balance sheet is classified as part of


A. current liabilities.
B. current assets.
C. fixed assets.
D. long-term liabilities.

20. A self-balancing account is


A. debtors account.
B. creditors account.
C. suspense account.
D. control account.
WAEC/WASSCE BookKeeping Past Questions and
Answer in PDF / Msword

How to Buy/Download SSCE WAEC Bookkeeping Past Questions

Interested in getting the updated & complete copy (all subjects) with solved solution,

To get the complete and more recent copy of the WAEC Bookkeeping Past Questions & Answers
for Objective Test and Essay/Theory

Take Note of the following step.

TAKE ACTION
Whatsapp us on +2348051311885 for the cost; account number to make payment and how to
received your complete copy of the past questions to be sent directly to your email address or
whatsapp number in pdf or ms-word.

MODE OF PAYMENT.
Mobile Transfer, POS or Direct Bank Deposit.

AFTER PAYMENT
Send us the following
Depositor Name:
Name of Product Paid for:
Valid email address.

DELIVERY ASSURANCE
We will deliver the past question to you 3 mins after confirmation of payment to the email you
will send to us.

OTHER SERVICES
 Sale & Online Registration of NCEE
 Uploading of O’Level Result to Jamb Portal
 Printing of Jamb Original Result
 Reprinting of Jamb Change of Course/Institution Slip
 Result Checker Scratch Card - WAEC, NECO, BECE, NBAIS
 Post UTME Past Questions
 School of Nursing Past Questions
 WAEC/NECO / NABTEB SSCE Past Questions
 Primary Sch Past Questions / Senior and Junior Sec School Past Questions
 All School Primary and Secondary Common Entrance Past Questions
 Lesson Note

WHATSAPP +2348051311885
21. An example of real account is
A. stock account.
B. rent account.
C. electricity account.
D. insurance account.

22. A document issued by the seller to the buyer acknowledging payment is


A. debit note.
B. credit note.
C. receipt.
D. invoice.

Use the following information to answer questions 23 to 25


N
Debtors (31/12/15) 114,000
Cash received in 2016 510,000
Debtors (31/12/16) 60.000
Provision for doubtful debt is 8%

23. The sales for the year 2016 is


A. N570.000.
D. N510,000.
C. N460,800.
D. N456,000.

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.

26. Purchases in bookkeeping refers to goods bought for


A. repair.
B. owner’s use.
C. permanent use.
D. resale.

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.

1. (a) What is a joint stock company (2 marks)


(b) State four differences between private limited liability company
and public limited liability company. (8 marks)

2. (a) Differentiate between a ledger and an account. (4 marks)

(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)

3. (a) What is product marketing? (2 marks)


(b) State eight ways of promoting a new product. (8 marks)

4. (a) What is control account (2 marks)


(b) List two types of control account (2 marks)
(c) Outline six advantages of control account. (6 marks)
SECTION B
BOOKKEEPING PRACTICE
Answer three questions only from this section.

5. Ali's Enterprise dealsin salt and has recorded the following transactions in the year 2020:

Purchases Quantity Purchased Gross Invoice Value


Dates Bags N
1st February 100 30.000
1st March 200 60,000
1st May 300 90,000

Sales Quantity Sold Total Sales Value


Dates Bags N
10th February 75 30,000
10th May 350 175,000

There was an opening stock on January 1st 2020 of 50 bags valued at N12,500.

Y ou are required to prepare for the period using FIFO method:


(a) Store Ledger;
(b) Trading Account, [20 marks]

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:

(i) 1st January 2020 31st December 2020


N N
Bar stocks 800 900
Subscriptions in arrears 1,200 1,500
Subscriptions in advance 500 1,000

(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)

7. Marks ltd makes account to 31st December annually


The business acquired a generating machine for N120,694 on 1st January 2010 with an
estimated lifespan of twelve years and scrap value of N694

You are required to:


(a) calculate the annual depreciation charge using straight line method
(b) prepare for the first three years:
(i) The machine account:
(ii) Provision for depreciation on Machine Account
(iii) Balance Sheet extract
(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.

You are required to:


(a) Write up the ledger accounts;
(b) Extract a Trial Balance as at 31st July 2021.
(20 marks)
WAEC/WASSCE BookKeeping Past Questions and
Answer in PDF / Msword

How to Buy/Download SSCE WAEC Bookkeeping Past Questions

Interested in getting the updated & complete copy (all subjects) with solved solution,

To get the complete and more recent copy of the WAEC Bookkeeping Past Questions & Answers
for Objective Test and Essay/Theory

Take Note of the following step.

TAKE ACTION
Whatsapp us on +2348051311885 for the cost; account number to make payment and how to
received your complete copy of the past questions to be sent directly to your email address or
whatsapp number in pdf or ms-word.

MODE OF PAYMENT.
Mobile Transfer, POS or Direct Bank Deposit.

AFTER PAYMENT
Send us the following
Depositor Name:
Name of Product Paid for:
Valid email address.

DELIVERY ASSURANCE
We will deliver the past question to you 3 mins after confirmation of payment to the email you
will send to us.

OTHER SERVICES
 Sale & Online Registration of NCEE
 Uploading of O’Level Result to Jamb Portal
 Printing of Jamb Original Result
 Reprinting of Jamb Change of Course/Institution Slip
 Result Checker Scratch Card - WAEC, NECO, BECE, NBAIS
 Post UTME Past Questions
 School of Nursing Past Questions
 WAEC/NECO / NABTEB SSCE Past Questions
 Primary Sch Past Questions / Senior and Junior Sec School Past Questions
 All School Primary and Secondary Common Entrance Past Questions
 Lesson Note

WHATSAPP +2348051311885
WAEC SSCE Past Questions List of Subject Available for
Download.

Cross Cutting Subjects WAEC Past Questions


Civic Education
English Language
General Mathematics
One Trade Subject

WAEC Science Past Questions


Agricultural Science
Biology
Chemistry
Computer Science
Further Mathematics
Health Education
Physical Education
Physics
Business WAEC Past Questions
Commerce
Financial Accounting
Insurance
Office Practice
Store Management

Technology WAEC Past Questions


Auto-Mechanics
Basic Electricity
Basic Electronics
Building Construction
Clothing and Textile
Foods and Nutrition
General Metal Work
Home Management
Technical Drawing
Wood Work
Data Processing
Dying and Bleaching

WAEC Humanities Past Questions


Arabic Language
Christian Religious Studies
Economics
French
Geography
Government
Hausa Language
History
Igbo Language
Islamic Studies
Literature-in-English
Music
Visual Arts
Yoruba Language

WAEC Trade Subjects Past Questions


Air Conditioning and Refrigeration
Animal Husbandry
Auto Body Repairs and Spray Painting
Auto Electrical Work
Auto Mechanical Work
AutoMobile Parts Mechandising
Block Laying, Brick Laying and Concreting Work
Book- Keeping
Carpentry and Joinery
Catering Craft Practice
Cosmetology
Data Processing
Dyeing and Bleaching
Electrical Installation and Maintenance Works
Fisheries
Furniture Making
Garment Making
GSM Phone Maintenance and Repair
Leather Goods Manufacturing and Repairs
Machine Woodworking
Marketing
Mining
Painting and Decorating
Photography
Plumbing and Pipe Fitting
Printing Craft Practice
Radio, Television and Electronic Works
Salesmanship
Stenography
Store Keeping
Tourism
Upholstery
Welding and Fabrication Engineering Craft Practice

You might also like