WAEC Accounting 2023 Objective — Question 34

Question 34 of 50 from the West African Examinations Council (WAEC) Accounting 2023 Objective paper, with the correct answer and a full explanation.

(All Girls' Social Club, 2021: Bar Sales D30,000; Bar purchases (cash paid) D17,000; Rent D1,200. Stock at bar 2020/2021: D1,400/D1,600; Owing for bar supplies 2020/2021: D6,500/D7,300.) The value of purchases for the year is

A. D 17,800.Correct
B. D 17,000.
C. D 16,800.
D. D 16,200.

Explanation

Purchases for the year = Cash paid + Closing amount owing - Opening amount owing = 17,000 + 7,300 - 6,500 = D17,800.

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