Senior High School · WASSCE style
1Assets rise by GH¢5,000 and liabilities rise by GH¢2,000 during a period with no drawings or new capital. Profit is
2Goods bought on credit from Mensah are recorded by
3Credit sales are first recorded in the
4A business has assets of GH¢50,000 and liabilities of GH¢20,000. Its capital is
5A petty cash book kept on the imprest system is
6The owner brings GH¢10,000 cash into the business. The entry is
7A business with capital GH¢40,000 and liabilities GH¢15,000 has total assets of
8A business has assets of GH¢50,000 and liabilities of GH¢15,000. What is its capital?
9An increase in a liability is recorded as a
10Buying office furniture for cash affects
Demo questions written by Otisam in the style of the WASSCE. They are not WAEC past questions.
