WAEC Accounting Past Questions & Answers - Page 66

To show the evidence of payment to a government ministry, the revenue collector issues a

When the letter "C" is written in front of an entry in the folio column of a cash book, it shows a 

A quality of accounting information is that it should be

\(\begin{array}{c|c} & Ade(N) & Bola(N) \\ \hline Capital & 40,000 & 30,000 \\ \hline Drawings & 10,000 & 15,000 \end{array}\)

Interest on drawing is 5%; profit is shared equally.

Bola's share of profit is

\(\begin{array}{c|c} & Ade(N) & Bola(N) \\ \hline Capital & 40,000 & 30,000 \\ \hline Drawings & 10,000 & 15,000 \end{array}\)

Interest on drawing is 5%; profit is shared equally.

Ade's share of profit is