WAEC Book Keeping Questions and Answers Obj and Theory 2023/2024

Waec Book Keeping Questions and Answers for free to all Weac candidates In Ghana, Liberia, Nigeria, Sierra Leone, and The Gambia. On this page, all the Waec Book Keeping questions and answers for 2023 and the most common questions and answers are released here.

Waec Candidates that applied for the West African Examination Council (WAEC) SSCE Examination will write their Waec Book Keeping For ART students. All details you need for you to be successful and pass this 2023 Waec Exam will also be given and make sure you read all through.

2023 Waec Book Keeping Exam Papers

2023 Waec Book Keeping Exam Papers Are

• Waec Book Keeping Essay Questions
• Waec Book Keeping Objectives Questions,

You are writing the 2 papers in only one day. In this post, the previous Year’s Waec questions and answers for Book Keeping are released and the 2023 Waec Book Keeping Exam Questions will also be released for those participating in the 2023 Waec examination.

2023 Waec Book Keeping Questions and Answers Objective Questions (paper 1)

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Previous Year WAEC Book Keeping Obj Answers

WAEC BOOK KEEPING OBJ

1-10: DDEBCACEEA
11-20: BDADEEDBEC
21-30: DBCACBDDBA
31-40: EABACAEABA
41-50: BDAEADEDCC
51-60: BCDCCDEADC

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2023 Waec Book Keeping Questions and Answers THEORY (paper 2)

The 2023 Waec Book Keeping Theory questions and answers are loading! 2023 Book keeping Essay answers Loading!! 2023 Waec Book Keeping Theory Answers Loading!!! Kindly bookmark the website for the answers that will be released. Better still reload the site to check if the answers for the 2023 Waec Book Keeping questions and answers have dropped.

(1a) Asset is anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value
(1b) Liability is defined as the future
sacrifices of economic benefits that the
entity is presently obliged to make to other
entities as a result of past transactions or
other past events, the settlement of which
may result in the transfer or use of assets,
provision of services or other yielding of
economic benefits in the future.
(1c) Capital can be refers to as financial
resources available for use such as cash,
the factories, machinery and equipment
owned by a business and used in
production.
(1d) Balance sheet is a statement of the
assets, liabilities, and capital of a business
or other organization at a particular point
in time, detailing the balance of income and
expenditure over the preceding period.
(1e) The principle of double entry
bookkeeping is that there are always two
entries for every transaction. One entry is
known as a credit entry and the other a
debit entry.
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(4)
(i) Cash book: Transactions held in cash or
by cheque are recorded in this book.
(ii) Purchase book: All credit purchase of
goods are written in this book. Cash
purchase of goods and credit purchase of
assets are not recorded in this book. Other
names of purchase book are purchase day
book, purchase journal, bought journal,
inward invoice book etc.
(iii)Sales Book: All sales of goods are
written in this book. Cash sale of goods and
credit sale of assets are not recorded in this
book. Other names of Sales Book are Sales
Day Book, Sales Journal, Sold book, Outward
Invoice Book etc.
(iv) Purchase Return Book: It may be
necessary to return some goods that the
firm has bought on credit for a variety of
reasons. All returns of such goods are
recorded primarily in Purchase Return Book
also known as Return Outward Book.
(v) Sales Return Book: Goods may be
returned by the customers for a variety of
reasons. All goods returned from
customers are recorded in Sales Return
Book. This book is also known as Return
Inward Book.
================

(6a)
Total debtors control A/C
DRAW A TABLE of Dr and Cr:-
Under Dr:-
Bal b/d 9,600
Credit sales 140,720
Dishonoured cheque 5,000
Discount disallowed 600
/155,920/
bal b/d = 33020
Under Cr;
Bad debt 3,380
Returns Inwards 6,280
Bills Receivable 1,8000
Cash received 6,2400
Discount allowed 1,800
Cheque received 30,000
Control entry 1,040
bal c/d 3,3020
/155,920/

(6b)
Total creditors control A/c
DRAW A TABLE OF Dr and Cr.
Under Dr.;
Cash to creditors 45,600
Bills payable 8,600
Discount received 3,780
Bal b/d /57980/
Under Cr.;
Bal b/f 3,880
Discount received but withdrawn 580
bal c/d 53,520
/57,980/

Before you leave this page kindly make sure you understand and know how WASSCE grades your WAEC Subject. The reason why we are doing this, is not to frighten or scare you but to put you in check and see reasons why you need to be serious with your Book Keeping studies for the 2023 Book Keeping Exam.

Waec Grading System For all Waec Candidates

Do you know that the West African Examination Council (WAEC) Board has published the Waec grading system of results? Kindly check below to see the meaning of the Waec Grading Result.

The table below shows candidates’ positioning of the Waec grading of results ranging from A1, B2, B3, C4, C5, C6, D7, E8, F9 are the complete list of Waec Grading Result. All Waec candidates must fall into one of the Waec Grading Systems.

WAEC Grading Percentage Scores

1. A1 Excellent 75% – 100%
2. B2 Very good 70% – 74%
3. B3 Good 65% – 69%
4. C4 Credit 60% – 64%
5. C5 Credit 55% – 59%
6. C6 Credit 50% – 54%
7. D7 Pass 45% – 49%
8. E8 Pass 40% – 45%
9. F9 Failure 0% – 44%

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