Senior High School · WASSCE style
1Sales are GH¢30,000 and cost of sales is GH¢22,000. What is the gross profit?
2Gross profit is GH¢30,000; mark-up on cost is 50%. Sales were
3Carriage outwards is treated as
4Inventory valued at cost GH¢8,000 can only be sold for GH¢6,500 after GH¢500 selling costs. It should be valued at
5In a statement of financial position, a bank overdraft is shown as
6Opening inventory is GH¢5,000, purchases GH¢20,000 and closing inventory GH¢3,000. What is the cost of sales?
7A machine costs GH¢12,000, has a residual value of GH¢2,000 and a life of 5 years. What is the yearly straight-line depreciation?
8Carriage inwards is treated as part of
9Discount allowed is shown in the income statement as
10Discount received is shown in the income statement as
Demo questions written by Otisam in the style of the WASSCE. They are not WAEC past questions.
