Fast & Easy Contact
zamgist: 08023429251 ||zamgist: 08023429251

Waec Financial Accounting Answer 2021 Now Posted

waec financial accounting answer 2021,2021 waec financial accounting answer,waec gce financial accounting answers,waec gce financial accounting answers 2021,waec financial accounting objective answers,waec financial accounting questions and answers 2021,waec financial accounting questions and answers,waec financial accounting questions and answers 2021,waec financial accounting past questions and answers,waec 2021 financial accounting questions and answers,waec financial accounting question and answer 2021,Waec financial accounting answer
 

2021 WAEC FINANCIAL ACCOUNTING (ESSAY AND OBJ) ANSWERS:

=================
FINANCIAL ACCOUNTING OBJ:
01AAABABACAB
11CCCBABBDCC
21DDBBCCDCAA
31BDDBBBDBAB
41BADBBACCBB
====================================
Section B answer three.
====================================
 
(6a)
Tabulate
Omiye social club income and expenditure
A/C for the year ended 31st December 2015
(Dr side)
Maintenance 13,000
Stationary 1,600
Postage 600
Dance expenses 4000
Gen. Expenses 6,600
Salaries 9,600
 
Depreciation
Club house 16,000
Furniture 3,600
Surplus 93,600
 
Total 148,600
 
(Cr side)
Subscription 130,000
Proceeds from concert 9,000
Int. On deposit 2,400
Income from dance 7,200
 
Total 148,600
 
(6b)
Balance sheet as at 31/12/15
 
(Dr side)
Accumulated fund 266,000
+ Surplus 93,600
 
Total 359,600
 
Current liabilities
Stationary 400
Gen expenses 1,200
 
Total 361,200
 
(Cr side)
Fixed assets
Club house 144,000
Furniture 20,400
Bank deposit 80,000
Total 244,400
 
Current asset
Cash 116,800
 
Total 361,200
====================================
Waec financial accounting 2021 answer
(8)
Departmental trading and profit account for the year ended 31st December 2017
 
Dep A
 
Sales 1,500,000
Less cost of sales
Opening stock 150,000
Add purchase 720,000
Cost of goods available 870,000
Less closing stock 175,000
Less cost of sales 695,000
Good profit 805,000
 
Add incomes
Discount received 72,000
Total income 877,000
 
Less expenses:
Rent & rates 25,000 —– 25,000
Commission 30,000 —- 25,000
Insurance 2500 —- 2500
Advertising 10,000 —- 10,000
Salaries and wages 150,000 —- 100,000
Administration and general expenses 75,000 —- 75,000
 
Depreciation 17,500
Total expenses 310,000
Net profit 567,000
 
Dept B
Sales 1,250,000
Less opening stock
Opening stock 100,000
Add purchase 520,000
Cost of goods available 620,000
Less closing stock 142,000
Less cost of sales 478,000
Gross profit 772,000
 
Add income:
Discount received 52,000
Total income 124,000
Depreciation 17,500
Total expenses 255,000
Net profit 569,000
====================================
 
(5a)
In the books of Odis Ent.
Statement of affairs as at 31/12/17
 
(Debit side)
Capital 43000.
Creditors 4000
Rent
Total=47000
 
(Credit side)
Fixed assets 8000
Stock 15900
Trade debtors 11000
Cash 12100
Total = 47000
 
(5b)
(Debit side)
Bal b/f 12100
Cash received
from debitors 100000
 
Total 112100
 
(Credit side)
Cash paid to
Suppliers 72000
Exp:
Rent 2500
Gen.exp. 1800
Drawing 52000
Bal c/d 30600
112100
(5c)
Trading profit&loss A/C for the year ended
(Credit side)
Opening stock. 15900
+Purchase. 74500
 
Total. 90400
– closing stock. 17000
73400
Gross profit. 28800
Total. = 102200
 
( Debit side)
Sales. 102200
 
Profit & loss a/c for the year ended 31/12/17
 
(Credit side)
Gen.exp. 1800
Rent. 3000
Depreciation 800
Wet profit. 23200
Total. = 28,800
 
(Debit side)
Gross profit. 28,800
 
Total. 28800
====================================
 
(4ai)
(i)Cash flow statement
(ii)Consolidated revenue fund
(iii)Vote book
 
(4aii)
(i)Legislator arms
(ii)The public
(iii)Local authorities
(iv)Local investors
 
(4b)
(i)Training; Public accountants are trained in analysis, data collection and testing, which allows them to look at accounts and see if the assumptions made are the correct ones. WHILE. private accountants are trained more in process issues especially in terms of accounts payable and billing techniques.
 
(ii)Environment; A public accountant’s life is much more varied than that of a private one. WHILE private accountant you’re likely to be in your own office and not moving about, with regular hours to boot.
 
(iii)Exposure; public accountancy firm (such as the Big Four) expose you to a variety of different types of accountancy job within a whole host of industries. WHILE private accounting the jobs are within smaller firms who are not so well known, and the experiences gained are more niche.
 
(iv)Stress; public accountant is notoriously much more stressful than that of their private counterparts WHILE private accounting their industry, which is a regular day-to-day workforce and a steady stream of work.
====================================
 
(1a)
In a Tabular form
 
(Book keeping)
(i)It is basis for accounting
(ii)Persons responsible are called Book keeper’s
 
(Accounting)
(i)It is basis for business language
(ii)Persons responsible are called Accountants
 
(1bi)
Sales
(i)out going invoices
 
(1bii)
Purchased
(i)Incoming invoices
 
(1biii)
Cash deposit
(i)Till slip
 
(1biv)
Salary
(i)time sheets
 
(1bv)
Return outward book
(i)Incoming credit note
 
(1c)
(i) For record purpose
(ii)For accounting purpose
(iii)For auditing and legal purpose
====================================
 
(2a)
Non-profit making organisation are organisations that do not mainly engage in buying and selling of goods. Thus, their main objective is not to make profit as they are formed to seek the welfare of their members eg mosque, churches etc.
 
(2b)
In a tabular form:
Profit making organisation
(i) It is engaging in the buying and selling of goods and services.
(ii) Their major objectives is the making of profit.
 
Non-profit organisation
(i) It does not engage in the buying and selling of goods and services.
(ii) The major object is not to make profit but to seek the welfare of members.
 
(2c)
(a) Subscription: This is the annual period dues of members of a club or social body or not for making profit organisation.
(b) Life membership fee: The club members can make payment for life. This means that they paying a fairly substantial amount now. Members can enjoy the facility of the club for the rest of his/her life.
(c) Entrance fee: These are amount payable when a person first joins a club. These are normally included as income in the year that they received.
(d) Donations: This is the amount received or given by non-trading organisation in cash or in kind in the form
of gift from a person or an organisation.
=================
COMPLETED
=================
TAGS :

2021/2022 waec Financial accounting essay and obj Expo Answers, 2021/2022 waec Financial accounting essay and obj Answers Expo, 2021/2022 waec Real/Confirmed waec Financial accounting essay and obj Essay/Obj Expo/Runz Questions/Answers, 2021/2022 waec Ssce Financial accounting essay and obj Expo, 2021/2022 waec Financial accounting essay and obj Runz Answers, Financial accounting essay and obj answer waec 2021 Financial accounting essay and obj answer 2021, Confirmed waec 2021 Financial accounting obj and essay answer, Correct waec 2021 Financial accounting obj and essay answer, correct waec Financial accounting essay and obj answer 2021, free waec 2021 answer Financial accounting essay and obj, Free waec 2021 Financial accounting obj and essay expo, Makeitonce waec 2021 Financial accounting obj and essay answer, Naijaray waec 2021 Financial accounting obj and essay answer, waec 2021 Financial accounting essay and obj ans, waec 2021 Financial accounting essay and obj Answer, waec 2021 Financial accounting essay and obj Answer– May/June Expo, waec 2021 Financial accounting essay and obj expo, waec 2021 Financial accounting essay and obj Expo Answer, waec 2021 Financial accounting essay and obj Expo Answers, waec 2021 Financial accounting essay and obj solution, waec 2021 Financial accounting obj and essay answer, waec 2021 Financial accounting obj and essay expo, waec 2021 Financial accounting obj and essay solution, waec 2021/2022 Financial accounting essay and obj Answers Runz/Expo, waec Financial accounting essay and obj 2021, waec Financial accounting essay and obj answer 2021, waec Financial accounting essay and obj expo 2021, waec Financial accounting essay and obj question 2021., Questions And Answers., Real waec 2021 Financial accounting obj and essay answer, Verified 2021/2022 waec Financial accounting essay and obj Questions/Answers Expo/Runz, verified waec Financial accounting essay and obj answer 2021, Verified/sure 2021/2022 waec Ssce Nov/Dece Financial accounting essay and obj Question And Answers Expo/Runz,WAEC ssce 2021 Financial accounting Theory expo answers, Ssce 2021 Financial accounting Expo answers now available, June/July Financial accounting Answers for 2021, Financial accounting Questions WAEC Ssce Expo Answers Here, Free wassce Financial accounting Theory objective, essay & theory correct Expo 2021 answers Runz WAEC Financial accounting Theory, WAEC Ssce 2021 Free Financial accounting Theory essay, Theory Answers Expo for WAEC Financial accounting Theory Paper 1 and Paper 2 Theory Answers Expo Now Posted, Free Financial accounting Theory objective ans for internal ssce, see WAEC ssce expo Financial accounting , essay questions for free, expotab correct wassce Financial accounting ans, sure WAEC ssce Financial accounting Theory objective answers runz runs expo free real and correct WAEC ssce 2021 June/July Financial accounting Theory free expo runz runs ans answers online for free see free answers online, Financial accounting WAEC question and answer, 2021/2021 Financial accounting expo, where can i get free WAEC agric answer or question, show me free expo website for WAEC agric answer 2021 runz, 2021 Verified WAEC Free Ssce Financial accounting Answers have been posted REAL WAEC SSCE Financial accounting Theory QUESTIONS & ANSWERS Direct To Phone Number AS Text message, bekeking 2021 WASSCE Financial accounting Theory (Expo) WAEC 2021 examsub runs Financial accounting Theory questions and answers WAEC SSCE June/July 2021 Financial accounting / ESSAY / OBJ QUESTION AND EXPO I need WAEC ssce free expo site, how can I get WAEC Financial accounting Theory answer for free, WAEC 2021 Financial accounting Theory essay, Objective And Theory Question and Answer Now Posted, Real 2021/2021 June/July wassce WAEC Financial accounting Theory objective, essay and theory 100% correct expo questions and answers runz chokes runs, verified 2021 WAEC Financial accounting , essay and obj eduwapaz WAEC Financial accounting Theory expo website, WAEC ssce Financial accounting Theory live cheats, legitsource sure WAEC Financial accounting ANSWER 2021 JUNE/JULY 2021 Financial accounting Theory original objective, theory and essay questions and answer now available here, 100% examkey WAEC ssce Financial accounting Theory expo, 2021 wassce Financial accounting Theory obj, essay and theory runz now posted, correct WAEC ssce Financial accounting Theory objective, essay (theory) answer now ready, free 2021 wassce Financial accounting Theory obj, theory and essay best expo site WAEC ssce Financial accounting Theory questions and answers, password for certified WAEC ssce Financial accounting Theory essay theory obj expo, how to get/ where to get wassce Financial accounting, Runsloaded WAEC Financial accounting Theory, 042tvseries WAEC 2021 Financial accounting theory, expolegit WAEC Financial accounting theory answer, WAEC2021 legitexpo WAEC Financial accounting theory answer, wakagist WAEC Financial accounting theory answer 2021, wakagist WAEC 2021 Financial accounting theory answer, earboard Financial accounting theory answer, naijaexam WAEC Financial accounting theory answer, essay and objective expo answer direct to my phone as text message, trusted WAEC ssce Financial accounting Theory questions and answer, i need WAEC Ssce June/July Financial accounting Theory essay theory objective obj Expo 2021 answers on whatsapp, gidifans Financial accounting Theory answer, expocoded Financial accounting Theory answer, wakagist Financial accounting Theory answer, codedexam WAEC Financial accounting Theory answer, expobomb Financial accounting Theory answer, legitexpo Financial accounting Theory expo, Runsloaded Financial accounting Theory expo, examgists WAEC Financial accounting Theory expo, WAEC Financial accounting Theory objectives answer, examclass WAEC Financial accounting Theory expo free answer. Undiluted Financial accounting waec expo runz from best expo site 2021

Add a Comment

Your email address will not be published. Required fields are marked *