WAEC Past Questions and Answers - Page 1297

The process of recording financial transactions of government is

OGOGO'S SALES LEDGER LEDGER CONTROL ACCOUNT

\(\begin{array}{c|c} & D & & D \\ \text{Balance b/d} & 25,180 & \text{Discount allowed} & 1,936 \\ \text{Sales} & 43,220 & \text{Sales returns} & 1,884\\ \text{Dishonored cheque} & 542 & \text{Cash received from customers} & xxx \\ & & \text{Balance c\d} & 5,122 \\ & \overline{68,942} & & \overline{68,942} \end{array}\)

The total cash received from customer is

OGOGO'S SALES LEDGER LEDGER CONTROL ACCOUNT

\(\begin{array}{c|c} & D & & D \\ \text{Balance b/d} & 25,180 & \text{Discount allowed} & 1,936 \\ \text{Sales} & 43,220 & \text{Sales returns} & 1,884\\ \text{Dishonored cheque} & 542 & \text{Cash received from customers} & xxx \\ & & \text{Balance c\d} & 5,122 \\ & \overline{68,942} & & \overline{68,942} \end{array}\)

Net sales is

The diagrammatic representation of the workings of the computer program is

When shares are issued to the public and the issuing company has not requested for payments, it is referred to as