WAEC SSCE - Financial Accounting - 2011 (Objective)

Question 1 Report

Which of the following is not recorded in a partnership appropriation account?

interest on capital

partners drawings

share of profit

interest on drawings

Question 2 Report

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

₦10,000

₦9,000

₦8,000

₦6,000






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